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 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.
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...