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USD/JPY: the Dollar is under bears pressure

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Technical levels: support – 110.70, 110.50; resistance – 111.20, 111.60.

Trade recommendations:

  1. Buy — 110.60; SL — 110.40; TP1 — 111.20; TP2 — 111.60.

Reason: bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines; the market is in negative mood, but there is a strong daily supports near 110.50.

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