USD/JPY: the Bulls stumbled on 106.00.
The currency pair USD/JPY kept above the line Tenkan-sen during yesterday’s session and the bulls tried to continue the uptrend. However, in the area of 106.30/40, as we noted earlier, there is a strong resistance that does not pass its higher.
Given the local overbought of the market we expect a correction to the Ichimoku cloud.
Technical levels: support – 105.10; resistance – 106.00, 106.40.
1. Sell — 106.00; SL — 106.20; TP1 — 105.10; TP2 — 104.10.