USD/JPY Forecast: Dollar will test SSB’s support

jy-l2Technical levels: support – 111.50; resistance – 112.40.

Trade recommendations:

Buy — 111.50; SL — 111.30; TP1 — 112.40; TP2 — 112.80.

Reason: narrow bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with horizontal Tenkan-sen; the prices are falling down to the support of lower border of the Cloud.

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