USD/JPY: Yen in thought
Tatiana Norkina, FBS analyst
Set a maximum in the 120th figure, the currency pair have fallen sharply to support of the upper boundary of the four-hour Ichimoku cloud. Senkou Span A keeps the price a little higher than 118th figure, but at the same time, dead cross which formed yesterday Tenkan and Kijun is relevant.
Obviously, in the near future auctions will be conducted within the cloud. If Tenkan-sen will not keep bulls under the 118.70 / 80, it is possible to recover of the course to the level of Kijun-sen line. Otherwise we wait fot testing the lower boundary of the cloud.
Technical levels: Support - 118.00; resistance - 118.80.
1. Buy- 119.00; SL - 118.70; TP1 - 120.40; TP2 - 120.90.