FxWirePro: EUR/JPY slips lower for the second straight session, 'Spinning Top' at 200W MA dents upside
FxWirePro: FTSE100 faces trend line resistance at 6245, break above targets 6350
Ichimoku Analysis (4-hour chart)
FTSE100 jumped sharply more than 200 points from a low of 6000 on an increase in risk appetite. The Moderna Phase 1 trial results showed that the vaccine is safe and expected to start the Phase 3 trial on Jul 27th. The S&P futures are holding above 6200 levels after hitting an intraday low of 3184.is week for further direction.
The near-term resistance to be watched is 6245, and any violation above will take the index till 6278/6311. Significant trend continuation only if it crosses 6352.
The immediate support is around 6134 (200-4H MA), an indicative violation below targets 6100/6035/6000/5900. Bearish continuation only if it breaks below 5891.
It is good to sell on rallies around 6275-80 with SL around 6351 for the TP of 5935.