USD/JPY: Ichimoku analysis (Apr. 11)
Daily. During the past week the pair found itself below the Ichimoku Cloud. None of the Indicator lines provided support for the market. By the end of the week the prices have once again fixed below the Cloud’s lower border. This may strengthen the bearish sentiment. The Golden Cross may soon be canceled, and the Cloud is likely to turn negative.
Chart. Daily USD/JPY
H4. At H4 the situation has once again turned bearish. Over the past week the pair fell below the Cloud, down to 4-year minimum. All the indicator lines were in favor of sellers: Tenkan-sen and Kijun-sen formed a Dead Cross, and the Cloud turned negative. After the oversold market recovers to Kijun, the downtrend may resume.
Chart. H4 USD/JPY