Ichimoku Cloud Analysis 15.01.2024 (USDJPY, XAUUSD, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is testing 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 144.65 is expected, followed by a rise to 147.85. The growth could be additionally supported by a rebound from the lower boundary of the bullish channel. The scenario could 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.

XAUUSD, “Gold vs US Dollar”

Gold has found a foothold above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1035 is expected, followed by a rise to 2095. The growth could be additionally supported 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 2025, which will mean a further decline to 1985.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is rebounding from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3375 is expected, followed by a rise to 1.3540. The growth could be additionally supported 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 1.3275, which will mean a further decline to 1.3285. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.3460.