The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”.
USD/JPY: the Dollar reached 111.50
Technical levels: support – 110.00; resistance – 111.50.
- Sell — 110.80; SL — 111.00; TP1 — 110.00; TP2 — 109.50.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.