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USD/JPY: bulls prevented by Cloud

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Technical levels: support – 110.00, 110.40; resistance – 110.70.

Trade recommendations:

  1. Sell — 110.40; SL — 110.60; TP1 — 110.00; TP2 — 109.60.
  2. Buy — 110.80; SL — 110.60; TP1 — 111.40; TP2 — 111.80.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a corretional dead cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the Cloud’s resistance is under the bull’s attack.

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