USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 114.44; 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 114.65 and then resume moving downwards to reach 113.45. 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 114.85. In this case, the pair may continue growing towards 115.75.
BRENT
Brent is trading at 88.41; 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 88.75 and then resume moving upwards to reach 91.95. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 85.05. In this case, the pair may continue falling towards 82.45.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1840.00; 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 1830.00 and then resume moving upwards to reach 1875.00. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1795.00. In this case, the pair may continue falling towards 1765.00.
Source: Roboforex
