USD/JPY: weekly Ichimoku analysis
Tatyana Norkina, FBS
Daily. The pair recovered into the 101.80 at the beginning of the previous week. However, Tenkan and Kijun lines formed a strong resistance, limiting the upside. By the end of the week the market slipped into the 101.00 area. Further bearish movement is likely as the sellers have a big advantage: the Cloud is widening.
Chart. Daily USD/JPY
H4. Tenkan and Kijun lines moved to the downside, pointing to a strong bearish sentiment on the market. It will be hard for the bulls to break above 101.40.
Chart. H4 USD/JPY