USD/JPY ICHIMOKU ANALYSIS
Tenkan-sen crossed the Kijun-sen from above. Tenkan directed down, Kijun-sen horizontal.
Chikou span is crossing the price chart from below, and directed up.
Instrument is trading in between Tenkan-sen & Kijun-sen lines, near the lower border of the cloud.
Closest Support is the Tenkan-sen line at 101.20 and 101.42 (0.618% retracement). Resistance at the kumo twist line on the lower border of the cloud, and the upper border line served as strong resistance.
Current cloud is descending. Downtrend is still strong. Pair's falls expected. Sell the pair below the level of 102.68. Breakout above this level would allow pair's to grow up to 103.48.
Extension to the level of 105.05 possibly
USDJPY
Chikou span is crossing the price chart from below, and directed up.
Instrument is trading in between Tenkan-sen & Kijun-sen lines, near the lower border of the cloud.
Closest Support is the Tenkan-sen line at 101.20 and 101.42 (0.618% retracement). Resistance at the kumo twist line on the lower border of the cloud, and the upper border line served as strong resistance.
Current cloud is descending. Downtrend is still strong. Pair's falls expected. Sell the pair below the level of 102.68. Breakout above this level would allow pair's to grow up to 103.48.
Extension to the level of 105.05 possibly
USDJPY
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