Ichimoku Cloud Analysis 25.01.2021 (EURJPY, BTCUSD, NZDUSD)

Article By RoboForex.com

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 126.32; 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 126.05 and then resume moving upwards to reach 127.20. Another signal in favor 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 125.45. In this case, the pair may continue falling towards 124.55. To confirm further growth, the asset must break the descending channel’s upside border and fix above 126.55.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 33393.00; 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 32625.00 and then resume moving upwards to reach 38030.00. Another signal in favor 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 30705.00. In this case, the pair may continue falling towards 28645.00. To confirm further growth, the asset must break the resistance area and fix above 34005.00.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7212; 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 0.7195 and then resume moving upwards to reach 0.7315. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.7125. In this case, the pair may continue falling towards 0.7035. To confirm further growth, the asset must break the resistance area and fix above 0.7245, thus indicating the completion of an Upside-Down Head & Shoulders reversal pattern.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.