USDJPY: Ichimoku analysis (May 23)
Tatiana Norkina, FBS analyst
Daily. Break above the 101.40 support and the price decline below the February lows (100.80) – this is how the last week's intigue of USD/JPY resolved. Right after that the pair recovered back to the recent levels and is now trying to fix above 101.40. We may retest the 102.00 figure. However, no one canceled the bearish trend that is confimed by the indicator's lines. Cloud remains bearish, while the dead cross is active.
Chart. Daily USD/JPY
H4. Buyer's activity brought the pair to the lower border of the Cloud. Senkou Span A remains resistive and doesn't let the bulls rise above the 101.70-101.80 mark. The pair could decline towards the golden cross, and then extend growth to 102.00.
Chart. H4 USD/JPY