Introduction to Ichimoku Charts
The Ichimoku chart is composed of five main lines, each providing its insights into market trends.
Source: forexlive.com
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GBP/JPY reclaims 183.00 as it faces resistance following solid UK data
The GBP/JPY extends its gains for the second straight day and faces solid resistance at the bottom of the Ichimoku Cloud (Kumo) at around 183.35.
Source: fxstreet.com
EUR/JPY Price Analysis: Remains bearish, despite bulls reclaiming 156.00
The EUR/JPY gains traction on Monday as traders brace for Tuesday's Bank of Japan (BoJ) monetary policy decision during the Asian session.
Source: fxstreet.com
EUR/JPY Price Analysis: Hits two-day high around the Kumo but remains bearish
The EUR/JPY climbs close to 0.90% at the beginning of the week and tests a previous support trendline turned resistance at around the 157.20/30 area.
Source: fxstreet.com
AUD/JPY Price Analysis: Plummets below Ichimoku Cloud, targets 93.00
On Thursday, the AUD/JPY plummeted more than 1.30%, shifting bearish, after finally breaching the top of the Ichimoku Cloud, signaling the downtrend is gathering pace.
Source: fxstreet.com