USD/JPY: the correction of prices to be expected
As we expected, yesterday's trades keeps in a strictly bullish mode. The market has updated a 3W-high, growing up to 106th figure. The Bulls are supported by gold cross and the positive character of the cloud.
By the evening the prices has corrected to the Tenkan-sen, but the bullish mood does not leave the traders. And note – there is the strong overbought market. Therefore pay attention to the level of 106.40, which may start deeper correction.
Technical levels: support – 105.10; resistance – 106.00, 106.40.
1. Sell — 106.40; SL — 106.60; TP1 — 105.10; TP2 — 104.10.