Ichimoku cloud indicator analysis on USDJPY for April 25th, 2023.
April 25, 2023 4:24 pm
USDJPY is trading around 133.94. Trend is the Daily chart is neutral as price remains inside the Kumo (cloud). Bulls have made several attempts over the last few days to break above the Kumo (cloud) resistance but all have so far failed. Price continues to trade close and below the upper cloud boundary. The tenkan-sen provides support at 133.59 and the kijun-sen together with the lower cloud boundary provide major support at 132.40-132.55. A break below the cloud would be a sign of weakness. The chikou span is above above the candlestick pattern (bullish). It is still more likely to see USDJPY break to the upside than to the downside. Traders need to remain cautious nevertheless.
The material has been provided by InstaForex Company – www.instaforex.com
USDJPY is trading around 133.94. Trend is the Daily chart is neutral as price remains inside the Kumo (cloud). Bulls have made several attempts over the last few days to break above the Kumo (cloud) resistance but all have so far failed. Price continues to trade close and below the upper cloud boundary. The tenkan-sen provides support at 133.59 and the kijun-sen together with the lower cloud boundary provide major support at 132.40-132.55. A break below the cloud would be a sign of weakness. The chikou span is above above the candlestick pattern (bullish). It is still more likely to see USDJPY break to the upside than to the downside. Traders need to remain cautious nevertheless.
The material has been provided by InstaForex Company – www.instaforex.com
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