FBS: trade recommendation for USD/JPY
Tatyana Norkina, FBS analyst
Ichimoku. USD/JPY fell by a figure on Monday, testing the 108.60 support. As a result, the technical picture on the hourly chart changed. The pair broke below the Cloud support and came into the negative territory. What's more, it fixed below Senkou Span B on Tuesday morning. Bearish pressure on the pair increased.
The pair returned into the Cloud on the H4 chart. It is likely to spend the next few days inside of it.
Technical levels: support – 107.90, 108.25, 108.45; resistance – 109.00.
Sell — 108.80/90; SL — 109.10; TP1 — 108.45; TP1 — 107.90.