GBPJPY, “Great Britain Pound vs Japanese Yen”
GBPJPY is trading at 152.91; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 153.35 and then resume moving downwards to reach 149.65. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 154.45. In this case, the pair may continue growing towards 155.35. To confirm further decline, the asset must break the rising channel’s downside border and fix below 152.35.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7333; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7305 and then resume moving upwards to reach 0.7505. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7205. In this case, the pair may continue falling towards 0.7105.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 115.99; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 115.65 and then resume moving upwards to reach 117.05. Another signal in favour of a further uptrend will be a rebound from the upside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 114.90. In this case, the pair may continue falling towards 113.95. To confirm further growth, the asset must break the rising channel’s upside border and fix above 116.35.
Source: Roboforex
