Forex Analysis: GBP/USD, USD/CAD, NZD/USD, USD/JPY

Ichimoku cloud analysis: GBP/USD, USD/CAD, NZD/USD

GBP/USD, “Great Britain Pound vs US Dollar”

The pair is testing the support level. It is going inside the Cloud, which means the prevalence of a flat. A test of the upper border of the Cloud is expected at 1.1545, followed by falling to 1.1275. The decline will be signaled by a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.1635, which will indicate further growth to 1.1725.

USD/CAD, “US Dollar vs Canadian Dollar”

The pair is pushing off the signal lines of the indicator, going above the Ichimoku Cloud, which means an uptrend. A test of the Kijun-Sen line at 1.3165 is expected, followed by growth to 1.3325. An additional signal supporting the growth will be a bounce off the lower border of the bullish channel. The growth can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.3035, which will mean further falling to 1.2945. The growth will also be confirmed by a breakaway of the upper border of the Diamond pattern and securing above 1.3210.

NZD/USD, “New Zealand Dollar vs US Dollar”

The pair has secured under the lower border of the bullish channel. The pair is going under the Cloud, which implies a downtrend. A test of the Kijun-Sen line is expected at 0.6045, followed by falling to 0.5835. An additional signal confirming the decline will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 0.6105, which will entail further growth to 0.6200.

Daily recommendations on major – USD/JPY

(AceTrader Team)

USD/JPY – 143.56

Despite dollar’s rise from 141.51 (Fri) to 144.95 in Australia yesterday, subsequent selloff due to yen intervention warnings by several Japanese officials signals ‘choppy’ swings below Sep’s 24-year 144.98 peak would continue but 141.51 sup should hold and yield rebound, above 144.00/10 would head to 144.45/55.

On the downside, only a daily close below 143.00 would risk stronger retracement towards 142.56.

Read Forex Outlook: EUR/USD, USD/JPY

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