Ichimoku Cloud Analysis 11.01.2024 (GBPUSD, USDJPY, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2735 is expected, followed by a rise to 1.2885. The rise could be additionally confirmed by 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 1.2645, which will mean a further decline to 1.2555.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting after a rebound from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 144.95 is expected, followed by a rise to 148.15. The rise could be additionally confirmed by 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 142.60, which will mean a further decline to 141.70.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3335 is expected, followed by a rise to 1.3515. The rise could be additionally confirmed by 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 1.3255, which will mean a further decline to 1.3165.