USD/JPY set to decline
Tatiana Norkina, FBS analyst
By the end of yesterday's trading, the USD/JPY currency pair rate has remained below all Ichimoku indicator lines. The bulls have failed to overcome the Tenkan and Kijun lines resistance under the pressure of the bearish cloud and, apparently, abandoned their plans to return to the cloud. Therefore, today, the sellers have gone on the offensive, breaking the 119th figure support level downwards. The dead cross and the downward expanding cloud will be supporting the negative sentiment in the market.
Technical levels: support – 118.80; resistance – 119.50.
1. Sell — 118.90; SL — 119.10; TP1 — 118.20; TP2 — 117.80.