Ichimoku Cloud Analysis 16.02.2021 (GBPUSD, EURJPY, USDJPY)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3934; 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 1.3870 and then resume moving upwards to reach 1.4045. Another signal in favor 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 1.3675. In this case, the pair may continue falling towards 1.3605.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 128.08; 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 127.55 and then resume moving upwards to reach 128.95. Another signal in favor 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 126.25. In this case, the pair may continue falling towards 125.25. To confirm further growth, the asset must break the rising channel’s upside border and fix above 128.55.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 105.51; 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 105.15 and then resume moving upwards to reach 106.05. Another signal in favor 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 104.65. In this case, the pair may continue falling towards 103.85.

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.