USD/JPY: contradicting signals
Tatyana Norkina, FBS
The market uncertainty remains high - every level can become a new support or resistance for the pair.
Ichimoku. One may see from the H4 chart that the indicator gives out contradicting signals. Senkou Span A and B are headed up, but the Cloud is bearish. There is a golden cross, but the prices have already moved below it. On The H1 the picture is very similar: prices fixed below the Cloud, but its still remains bullish.
The 101.80 is seen as a key level today. Price fix above this level will support the market optimism, while fox below - open the way for a decline to 101.30.
Technical levels: support – 101.30, 101.60; resistance – 101.90, 102.10.
1. Buy — 101.80; SL — 101.60; TP1 — 102.10; TP2 — 102.50.
2. Sell — 101.80; SL — 102.00; TP1 — 101.30; TP3 — 101.10.