The USD/JPY pair is diving towards the cloud
Tatiana Norkina, FBS analyst
During yesterday’s trading session, the pair USD/JPY had lost almost three figures. That was caused by dollar’s weakening. By the end of the day, the bears have fallen off the market to the strong support of the 117th figure. As a result, consolidation movement in this area occurred this morning.
It is noteworthy that the trading is under a four-hour Ichimoku cloud now, and it is possible to restore the Tenkan-sen (118.90) soon. There is also the lower limit of the Ichimoku cloud follows, which will act as a resistance.
Technical levels: Support - 117.00; resistance - 118.90.
1. Sell — 118.90; SL — 119.10; TP1 — 117.50; TP2 — 117.10.