USDJPY trading within cloud
Tatiana Norkina, FBS analyst
The USD/JPY currency pair rate was recovering to the four-hour Ichimoku cloud upper border during yesterday's trading, breaking through the Tenkan and Kijun lines resistance. By this morning, the situation is two-way. On the one hand, the dead cross is active, the cloud is expanding downwards and the bulls are opposed by the horizontal Senkou Span B in the 120.60/70 area. On the other hand, the bulls have broken through the Kijun-sen resistance at 120.40. The pair's future fate is obvious to be decided at these levels.
Technical levels: support – 120.30/40; resistance – 120.60, 121.10, 122.00.
1. Buy — 120.50; SL — 120.30; TP1 — 121.10; TP2 — 122.00.
2. Sell — 120.20; SL — 120.40; TP1 — 119.40; TP2 — 118.80.