USD/JPY: weekly Ichimoku analysis
Tatyana Norkina, FBS analyst
Daily. USD/JPY extends the upside. Last week bulls managed to break above the 104.00 resistance, what itensified the buying activity. The pair touched a new high of 105.70. At the same time, we should note that the pair is strongly overbought.
Chart. Daily USD/JPY
H4. Given the overbought market conditions on the H4 chart, we concede a corrective decline towards the H4 Ichimoku in the nearest future.
Chart. H4 USD/JPY