Ichimoku cloud analysis: USD/JPY, XAU/USD, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 144.65 is expected, followed by a rise to 147.85. The growth could be additionally supported by a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 142.60, which will mean a further decline to 141.70.

XAU/USD, “Gold vs US Dollar”

Gold has found a foothold above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1035 is expected, followed by a rise to 2095. The growth could be additionally supported by a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 2025, which will mean a further decline to 1985.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is rebounding from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3375 is expected, followed by a rise to 1.3540. The growth could be additionally supported by a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.3275, which will mean a further decline to 1.3285. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.3460.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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