GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from the lower boundary of the Cloud. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2640 is expected, followed by a decline to 1.2475. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.2675, which will mean further growth to 1.2765. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 1.2575.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is correcting after a rebound from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.3445 is expected, followed by a rise to 1.3545. 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 under 1.3430, which will mean a further decline to 1.3330. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price finding a foothold above 1.3480.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has found a foothold under the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 148.45 is expected, followed by a rise to 151.25. 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 under 146.75, which will mean a further decline to 145.85.
