Ichimoku cloud indicator analysis on USDJPY for July 27th, 2023.
July 27, 2023 2:25 pm
USDJPY is trading around 140.73. Price remains above the Kumo (cloud) and is bouncing off cloud support despite the recent short-term downtrend it was in for the last few days. USDJPY is also breaking above the tenka-sen (red line indicator) as price is challenging the kijun-sen (yellow line indicator) at 140.70. Bulls want to see price bounce off cloud support and push above both the tenkan-sen and kijun-sen. The Chikou span (black line indicator) is trying to stay above the candlestick pattern (bullish). If the tenkan-sen crosses above the kijun-sen, then we will get a new bullish signal. As long as price is above the cloud, bulls are in control.
The material has been provided by InstaForex Company – www.instaforex.com
USDJPY is trading around 140.73. Price remains above the Kumo (cloud) and is bouncing off cloud support despite the recent short-term downtrend it was in for the last few days. USDJPY is also breaking above the tenka-sen (red line indicator) as price is challenging the kijun-sen (yellow line indicator) at 140.70. Bulls want to see price bounce off cloud support and push above both the tenkan-sen and kijun-sen. The Chikou span (black line indicator) is trying to stay above the candlestick pattern (bullish). If the tenkan-sen crosses above the kijun-sen, then we will get a new bullish signal. As long as price is above the cloud, bulls are in control.
The material has been provided by InstaForex Company – www.instaforex.com
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