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 supported by Cloud
Technical levels: support – 108.30, 109.20; resistance – 109.60, 110.00.
- Sell — 109.60; SL — 109.80 TP1 — 108.60; TP2 — 108.30.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the market supported by 4H’s Cloud, but the prices under the strong pressure of 110.00.
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...