For Traders

Analytical Reviews

Ichimoku Indicator

28.11.202315:37 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on USDJPY for November 28th, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USDJPY is trading around 148.43. In Ichimoku cloud terms trend is now neutral as price has entered the Daily Kumo (cloud). This is a sign of weakness. Price was unable to push above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Instead price closed below the upper cloud boundary yesterday. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). USDJPY is vulnerable to a move towards the lower cloud boundary around 147.30. As long as price is below the tenkan-sen and the kijun-sen indicators at 149.30-149.55, USDJPY will remain weak and vulnerable to a deeper correction.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.