EURJPY, “Euro vs Japanese Yen”
EURJPY is trading at 129.66; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 129.25 and then resume moving upwards to reach 130.95. Another signal in favor of a further uptrend will be a rebound from the upside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 128.55. In this case, the pair may continue falling towards 127.65.
USDZAR, “US Dollar vs South African Rand”
USDZAR is trading at 15.09; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the support area at 15.05 and then resume moving upwards to reach 15.85. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 14.75. In this case, the pair may continue falling towards 14.45.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7742; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7755 and then resume moving downwards to reach 0.7535. Another signal in favor of a further downtrend will be a rebound from the upside border of the Wedge pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7845. In this case, the pair may continue growing towards 0.7935. To confirm further decline, the asset must break the pattern’s downside border and fix below 0.7675.
