USD/JPY is positive
Tatiana Norkina, FBS analyst
Yesterday during the trading the USD/JPY currency pair escaped to a positive zone. Bulls managed to break through the upper Ichimoku cloud boundary resistance which was held since the beginning of week. But, in the late afternoon, the pair consolidated over Senkou Span B. Apparently, bulls have scruples on fast attack yet, but fixing of the price over a cloud can lead to emergence of new buyers in the market.
We will pay attention to the positive facts: Tenkan-sen and Kidzhun-sen has created a new "Golden cross"; Ichimoku cloud has changed its nature; Chinkou Span is gradually leaving the overbought area. Therefore bulls can take a revenge from their rivals today.
Technical levels: support – 118.50; resistance – 119.00, 119.40, 119.80.
1. Buy — 118.60; SL — 118.40; TP1 — 119.40; TP2 — 119.80.