FBS - Analytics

    FBS

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    USD/JPY: the Bears have not abandoned their goals

    The currency pair USD/JPY corrected to the four-hours Tenkan-sen yesterday after updating a local minimum for the last two weeks to 100.20. At this the bulls forces has ended and the pair continued to falling.

    The market maintained its bearish trend. Negative cloud and dead cross will support the sales of the currency pair.

    Technical levels: support – 100.80, 100.20, 99.60; resistance – 101.20.

    Trade recommendations:

    1. Sell — 101.00; SL — 101.20; TP1 — 100.20; TP2 — 99.60.


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