You are here: Home > articles > Forex > Ichimoku cloud indicator analysis on USDJPY for May 10th, 2023.
Ichimoku cloud indicator analysis on USDJPY for May 10th, 2023.
May 10, 2023 1:26 pmVideo
Latest News
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
- Trading plan for EUR/USD on April 17. Simple tips for beginners April 17, 2024
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
USDJPY is in a bearish trend according to the Ichimoku cloud indicator in the 4 hour chart. Price remains below the Kumo (cloud) and is vulnerable to a move lower. With price currently trading at 135.35, a rejection at the cloud resistance would be a bearish sign. A rejection at the cloud resistance will bring a pull back at least towards the kijun-sen (yellow line indicator) at 134.48. This is the short-term support according to the Ichimoku cloud indicator. The Chikou span (black line indicator) is trading above the candlestick pattern (bullish), but this is not a strong indication as long as price is below the cloud. If price breaks above the cloud and the chikou span remains above the candlestick pattern, then it will have a stronger significance.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: