Ichimoku Cloud Analysis 24.11.2023 (GBPUSD, BRENT, USDJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2485 is expected, followed by a rise to 1.2675. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2325, which will mean a further decline to 1.2235.

BRENT

Brent is correcting by forming an inverted Head and Shoulders reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 80.35 is expected, followed by a rise to 89.50. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 77.25, which will mean a further decline to 73.55. Meanwhile, the growth could be confirmed by a breakout of the neck line of the Head and Shoulders reversal pattern with the price finding a foothold above 81.05.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has secured under the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 149.45 is expected, followed by a decline to 147.35. An additional signal confirming the decline will be a rebound from the upper boundary of the Double Top pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 150.25, which will mean further growth to 151.15. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the reversal Double Top pattern with the price finding a foothold under 148.55.