USDJPY H1: The Ichimoku Forecast for the Asian Session on 23.12.2024
21.12.2024 01:16
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 direction of movement of the Kumo cloud. This change is marked with a vertical purple line on the chart. The appearance of orange color in the cloud indicates a change in the main direction of movement to upward.
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:
The Tenkan and the Kijun lines are positioned above the current price. It indicates a negative market sentiment in the moment.
The dynamics of price movement over a longer distance is determined by the Kumo cloud, which is now colored orange. Thus, this signal prioritizes the upward vector of price movement in the future.
The price is between the SenkouA and SenkouB lines, which act as support and resistance levels. To clarify the market situation, it is worth waiting until the price goes beyond the Kumo cloud.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
The dynamic support level is on the SenkouB line, around the 155.480 mark.
Dynamic resistance levels are on the Tenkan line, around the 156.380, the Kijun line, around the 156.935, and the SenkouA line, around 156.426.
The second important signal is a change in the direction of movement of the Kumo cloud. This change is marked with a vertical purple line on the chart. The appearance of orange color in the cloud indicates a change in the main direction of movement to upward.
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:
The Tenkan and the Kijun lines are positioned above the current price. It indicates a negative market sentiment in the moment.
The dynamics of price movement over a longer distance is determined by the Kumo cloud, which is now colored orange. Thus, this signal prioritizes the upward vector of price movement in the future.
The price is between the SenkouA and SenkouB lines, which act as support and resistance levels. To clarify the market situation, it is worth waiting until the price goes beyond the Kumo cloud.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
The dynamic support level is on the SenkouB line, around the 155.480 mark.
Dynamic resistance levels are on the Tenkan line, around the 156.380, the Kijun line, around the 156.935, and the SenkouA line, around 156.426.