Ichimoku Cloud Analysis 04.03.2021 (USDJPY, USDPLN, EURJPY)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.11; 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 106.90 and then resume moving upwards to reach 108.15. Another signal in favor of a further uptrend will be a rebound from the rising 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 105.55. In this case, the pair may continue falling towards 104.65.

USDPLN, “US Dollar vs Poland Zloty”

USDPLN is trading at 3.7676; 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 3.7560 and then resume moving upwards to reach 3.8160. 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 3.7265. In this case, the pair may continue falling towards 3.7000.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 129.12; 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 128.90 and then resume moving upwards to reach 130.75. Another signal in favor of a further uptrend will be a rebound from the support area. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 128.25. In this case, the pair may continue falling towards 127.35.

Source: RoboForex