USD/JPY: on the cloud lining
Yesterday's trading on USD/JPY had a downward dynamic. The pair had lost approximately1 figure during the day having decreased to the upper limit of four-hour Ichimoku cloud. Tenkan-Sen and Kijun-Sen responded promptly to the decrease by annuling the active golden cross.
However, such a decrease is still rather correctional due to the bullish trend of Ichimoku Cloud. Hence, market growth recovery remains quite possible. The only thing bulls need to do for it is to take hold above Senkou Span A.
Technical Levels: Support – 109.00; resistance – 109.80, 110.10.
1. Buy — 109.00/20; SL — 108.80; TP1 — 109.80; TP2 — 110.10.