NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/JPY: the Dollar is under bears pressure
Technical levels: support – 110.70, 110.50; resistance – 111.20, 111.60.
- Buy — 110.60; SL — 110.40; TP1 — 111.20; TP2 — 111.60.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines; the market is in negative mood, but there is a strong daily supports near 110.50.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...