Ichimoku cloud indicator analysis on USDJPY for April 14th, 2023.
April 14, 2023 2:25 pm
According to the Ichimoku cloud indicator, short-term trend in USDJPY is bullish as price is above the Kumo (cloud). Price recently pulled back and tested the cloud support. Recent price actions suggests that bulls remain in control of the near term trend. Price is bouncing off cloud support. Respecting the cloud is key. Support by the cloud at 132-132.20 is very important. As long as price is above this level, bulls will remain in control of the trend. Price is now challenging the kijun-sen (yellow line indicator). The kijun-sen provides resistance at 133.04. The tenkan-sen (red line indicator) is below current price and provides support at 132.72. The Chikou span (blue line indicator) is above the candlestick pattern (bullish). Technically trend is turning bullish as USDJPY has started making higher highs and higher lows. Next major technical resistance is at 134.06. A break above this level will open the way for a move towards 137.
The material has been provided by InstaForex Company – www.instaforex.com
According to the Ichimoku cloud indicator, short-term trend in USDJPY is bullish as price is above the Kumo (cloud). Price recently pulled back and tested the cloud support. Recent price actions suggests that bulls remain in control of the near term trend. Price is bouncing off cloud support. Respecting the cloud is key. Support by the cloud at 132-132.20 is very important. As long as price is above this level, bulls will remain in control of the trend. Price is now challenging the kijun-sen (yellow line indicator). The kijun-sen provides resistance at 133.04. The tenkan-sen (red line indicator) is below current price and provides support at 132.72. The Chikou span (blue line indicator) is above the candlestick pattern (bullish). Technically trend is turning bullish as USDJPY has started making higher highs and higher lows. Next major technical resistance is at 134.06. A break above this level will open the way for a move towards 137.
The material has been provided by InstaForex Company – www.instaforex.com
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