Norkina: USD/JPY is going to get down
Tatiana Norkina, FBS analyst
Currency pair USDJPY it was being traded yesterday in a very narrow range within the cloud. Since the beginning of trading the situation was seized by bears, who had taken a direction under the support of Tenkan and Kijun lines (the latter formed a dead cross).
Today's trading also began with the fall in prices. Bearish mood of market participants made a pair to go into negative territory which is under Ichimoku cloud. At the moment, all indicator lines went down. Therefore, it may increase sales.
Technical Levels: Support - 112.70, 112.50, 111.00; resistance - 113.60, 113.30.
1. Sell - 113.20 / 30; SL - 113.50; TP1 - 112.50; TP2 - 111.10.