USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 114.69; 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 114.45 and then resume moving upwards to reach 115.90. Another signal in favour 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 113.50. In this case, the pair may continue falling towards 112.65. To confirm further growth, the asset must break the resistance level and fix above 115.10. This movement will indicate the completion of a Double bottom reversal pattern.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2720; 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 1.2665 and then resume moving upwards to reach 1.2955. Another signal in favour of a further uptrend will be a rebound from the “neckline” of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2465. In this case, the pair may continue falling towards 1.2375.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9246; 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 0.9215 and then resume moving upwards to reach 0.9335. Another signal in favour 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 0.9135. In this case, the pair may continue falling towards 0.9045.
