USD/JPY returned to maximums
By Tatyana Norkina
USD/JPY recovered to last week’s highs after a short-term pullback to 113.80. The pair settled above Tenkan (red line) and Kijun (blue line) on H4. This may add to the bullish mood. If resistance at 115.20 contains the bulls, we’ll see a deeper correction towards the upper border of the Cloud.
The oscillators diverge from the price chart, although they are set up for growth. As a result, it’s rather risky to buy this pair in the long term.
Technical levels: support – 114.70; resistance – 115.20, 115.60.
1. Buy — 115.20; SL — 114.90; TP1 — 116.00; TP2 — 116.50.