USDJPY H1: The Ichimoku Forecast for the Asian Session on 1.11.2024
01.11.2024 00:16
Technical
During previous trading sessions, the intersection of the Tenkan and Kijun lines, marked with a pink square, was observed on the USDJPY chart. This signal indicates a potential change in the downward trend.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph . The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
At the moment, a signal of three lines is being observed on the USDJPY chart. Within this signal, the indicator lines are arranged in the reverse order. The price is below the red Tenkan line, the blue Kijun line, and the Kumo cloud. This signal indicates the dominance of a downward trend and a high probability of its continuation.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
In the current market profile, the price has fixed below the Kumo cloud. The boundaries of the cloud form a dynamic resistance zone for the price.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic resistance levels are on the Tenkan line, in the area of the 152.438, the Kijun line, near the 152.730, the SenkouA line, at the level of 153.158, and the SenkouB line, around 153.306.
The resistance levels indicated above are a priority for finding entry points into the market.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph . The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
At the moment, a signal of three lines is being observed on the USDJPY chart. Within this signal, the indicator lines are arranged in the reverse order. The price is below the red Tenkan line, the blue Kijun line, and the Kumo cloud. This signal indicates the dominance of a downward trend and a high probability of its continuation.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
In the current market profile, the price has fixed below the Kumo cloud. The boundaries of the cloud form a dynamic resistance zone for the price.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic resistance levels are on the Tenkan line, in the area of the 152.438, the Kijun line, near the 152.730, the SenkouA line, at the level of 153.158, and the SenkouB line, around 153.306.
The resistance levels indicated above are a priority for finding entry points into the market.