Ichimoku cloud analysis: BTC/USD, Brent, USD/JPY
|BTC/USD, “Bitcoin vs US Dollar”
BTCUSD is trading at 37560.00; 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 36605.00 and then resume moving upwards to reach 42225.00. Another signal in favor of 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 34305.00. In this case, the pair may continue falling towards 31605.00.
BRENT
Brent is trading at 55.76; 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 56.65 and then resume moving downwards to reach 53.40. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 56.95. In this case, the pair may continue growing towards 58.35. To confirm further decline, the asset must break the neckline of a Head & Shoulders reversal pattern and fix below 54.80.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 103.76; 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 103.55 and then resume moving upwards to reach 104.95. Another signal in favor of further uptrend will be a rebound from the downside 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 above 103.15. In this case, the pair may continue falling towards 102.25. To confirm further growth, the asset must break the pattern’s upside border and fix above 104.35.
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