Ichimoku cloud analysis: GBP/USD, NZD/USD, USD/JPY
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has gained a foothold above the Tenkan-Sen line. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2815 is expected, followed by a rise to 1.2995. An additional signal confirming the rise might be 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 below 1.2630, which will indicate a further decline to 1.2540.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is undergoing a correction following a rebound from the resistance level. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 0.6150 is expected, followed by a rise to 0.6265. An additional signal confirming the rise could be 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 securing below 0.6055, which will signal a further decline to 0.5965.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is declining within the bearish channel. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 147.25 is expected, followed by a decline to 144.95. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price finding a foothold above 150.65, which will indicate further growth to 151.55.
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