Ichimoku cloud

Technical Analysis – EURGBP looking bearish below cloud

Posted on December 8, 2016 at 9:53 am GMT

EURGBP has rallied 3% from the 4½-month low of 0.8304 it set on Monday, but despite the gains, the pair remain significantly below the Ichimoku cloud. Prices moved below the cloud and below the 50-day moving average in November, and the Tenkan-sen and Kijun-sen lines are negatively aligned, indicating a bearish bias in the near-term. RSI also points to negative momentum as it remains below 50 (although it has recovered from oversold levels). If prices resume their downtrend, immediate support [..]

Technical Analysis – AUDJPY in neutral bias above 50-DMA

Posted on July 22, 2016 at 9:44 am GMT

AUDJPY has been stuck in a neutral range after being unable to make significant headway above 80.60. Prices have been moving within the Ichimoku cloud since the rebound from the June 24 low of 72.41 fizzled out. The neutral bias is underlined by the sideways moving 50-day moving average but with RSI just above neutral ground, there is still a slight positive momentum. If this positive momentum strengthens, AUDJPY will likely meet resistance at around 80.60 where it has struggled [..]

Technical Analysis – USDJPY gains capped by 50-DMA

Posted on July 19, 2016 at 9:01 am GMT

USDJPY continued to hold on to the upside bias that started just over a week ago. However, momentum has weakened slightly and prices have been unable to move past the 50-day moving average. This has created immediate resistance at around 106.30. If prices are able to break above this key area, the next resistance will likely come at 107. But with the stochastics in overbought territory, the upside bias may be about the reverse. Key support areas to watch to [..]

Technical Analysis – US 30 index futures bullish above cloud

Posted on July 12, 2016 at 12:40 pm GMT

The US 30 index futures has turned strongly bullish after recovering from the post-Brexit sell-off. Prices have risen sharply above the Ichimoku cloud and the tenkan-sen and kijun-sen lines are positively aligned. The momentum indicators are also supporting the bullish bias with the MACD turning positive again and the RSI rising towards 70. Further gains in the near term are possible as RSI has yet to cross into overbought territory. The index is trading not too far from its all-time [..]

Technical Analysis – AUDJPY maintains downtrend after recent slide

Posted on July 1, 2016 at 9:29 am GMT

AUDJPY has rebounded from the 5¼-year low of 72.41 it touched a week ago to around 76.70 today. However, prices remain significantly below the Ichimoku cloud and the 200-day moving average, underlining the medium-term bearish outlook. In the near-term, the stochastics point to a weak upside momentum following the partial rebound seen over the past three days. The converged tenkan-sen and kijun-sen lines are currently capping further gains by providing resistance at around the 77 level. Should the upside momentum [..]

Technical Analysis – USDJPY remains bearish below Ichimoku cloud

Posted on June 29, 2016 at 10:05 am GMT

USDJPY was stuck in its recent three-day trading range today and has been capped by the Tenkan-sen line since bouncing off last Friday’s 2½-year low of 98.96. Last week’s slide has significantly increased the downside bias for the pair with the MACD falling deeper into negative territory. There is little upside momentum for near-term gains as RSI remains well below 50 just above oversold level. The Tenkan-sen line is providing immediate resistance at 102.85 and prices will likely struggle to [..]

Technical Analysis – US 30 index futures pull back from 18000 level

Posted on June 10, 2016 at 2:12 pm GMT

The US 30 stock index futures pulled away from seven-week highs above 18000 to find support around the 17850 level. Further declines could see the index fall back into the Ichimoku cloud and the next support could come around the 17700 level. A break below this key level would neutralize the current positive bias, which has weakened after two days of losses. The weakened momentum is highlighted by the RSI having dipped sharply downwards. However, it remains above 50 and [..]

Technical Analysis – NZDJPY breaks above channel and cloud top

Posted on June 9, 2016 at 1:31 pm GMT

NZDJPY jumped to a 6-week high of 76.28 earlier today, breaking above the Ichimoku cloud for the first time since April. Today’s sharp rally also pushed prices above the top of the upward trending regression channel that prices have been trading in for most of June. RSI is rising and has yet to reach overbought levels so there is scope for further gains in the near term. The MACD histogram turned positive after today’s gains, further supporting the strengthening bullish [..]

Technical Analysis – AUDJPY climbs above 80 in renewed upside momentum

Posted on June 7, 2016 at 1:53 pm GMT

AUDJPY has surged by almost 3% in the past two days to break above 80, helping it recover from fresh 4-month lows. However, despite the strong upside momentum, RSI has only barely reached 50 and the MACD is still in negative territory (although the signal line is in an ascending trend). Further gains in the near term are possible but the pair is already struggling to hold above the key resistance level of 80 and needs a strong break above [..]

Technical Analysis – GBPJPY attempts to break above cloud

Posted on May 24, 2016 at 2:51 pm GMT

GBPJPY reversed the previous day’s losses to rise sharply on Tuesday as it attempted to break above the Ichimoku cloud for the first time since December. The near-term bias is positive as RSI is trending up and with further scope for gains as it’s still below 70 (overbought level). If prices continue to head higher, there’s likely to be resistance from the 100-day moving average at around 161.40. A break above the 100-day moving average would strengthen the upside momentum. [..]

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