CADJPY, “Canadian Dollar vs Japanese Yen”
CADJPY is trading at 87.78; 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 87.05 and then resume moving upwards to reach 89.15. 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 85.65. In this case, the pair may continue falling towards 84.75. To confirm further growth, the asset must break the descending channel’s upside border and fix above 88.05.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2402; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2430 and then resume moving downwards to reach 1.2265. Another signal in favor of a further downtrend will be a rebound from descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2475. In this case, the pair may continue growing towards 1.2565.
EURJPY, “Euro vs Japanese Yen”
EURJPY is trading at 131.50; 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 130.80 and then resume moving upwards to reach 132.65. 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 130.05. In this case, the pair may continue falling towards 129.15.
