USD/JPY: Dollar going to April’s highs

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Technical levels: support – 110.80, 110.50; resistance – 111.50.

Trade recommendations:

1. Sell — 111.50; SL — 111.70; TP1 — 110.80; TP2 — 110.50.

Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, horizontal Tenkan-sen; the market is overbought.

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