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USD/JPY: Dollar breaking out SSA’s resistance

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Technical levels: support – 112.10; resistance – 112.80, 113.20.

Trade recommendations:

  1. Buy — 112.40; SL — 112.20; TP1 — 112.80; TP2 — 113.20.
  2. Sell — 112.10; SL — 112.30; TP1 — 111.40; TP2 — 110.90.

Reason: narrowing bearish Ichimoku Cloud and rising Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices fixed above the daily Cloud, but there is a strong resistance on 112.30.

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