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It is notable that we have a valid kumo break out signal following by the confirmation of the chikou span line which is below the cloud and below the price.
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Based on the Ichimocu system here we can see that the price is above the cloud meaning that the price seems to be moving up for the time being.
The tekan sen and kijun sen seem to be in a bullish formation giving us another clue that the market may probably continue its bear move.
USDJPY : Based on the Ichimocu system we can see that the price seems to be in a bearish mode.
Let's examine the components of the system one by one.
The tekan sen and Kijun sen lines are in bearish formation and below the cloud
The chikou span is below the cloud and the price and the cloud are looking bearish for the time being.
|remaining time till the new event being published|
- Earnings Season in U.S.: Major Reports of the Week
- Industrial production fell by 1.7% in the euro area (EA19) and by 1.3% in the EU28 m/m
- China's exports and imports in December declined at the worst rates in two years
- IMF cuts global growth outlook, cites trade war and weak Europe