USD/JPY: dollar is oversold

USD/JPY: dollar is oversold

2022-04-15 • Updated

Technical levels: support – 110.90; resistance – 111.50.

Trade recommendations:

  1. Buy — 110.90; SL — 110.70; TP1 — 111.50; TP2 — 111.80.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the market is oversold and supported by 111.00.

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