FBS - Analytics


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USD/JPY: a cloudy resistance

The currency pair USD/JPY reached the lower border of Ichimoku cloud. Senkou Span A turned out to be a strong resistance for the corrective movement. We suggest that the main downward trend may resume considering the general bearish Ichimoku indicator. In case of breakdown of support Tenkan and Kijun lines we’ll be looking at 101 figure.

Technical levels: support – 102.75; resistance - 103.

Trade recommendations:

1. Sell — 102.50; SL — 10270; TP1 — 101.50; TP2 — 101.00.

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