USD/JPY: weekly Ichimoku (June 6)
Tatyana Norkina, FBS analyst
Daily. The unexpected break above the 102 figure changed the market picture. The price quickly rose to the upper border of the Cloud at 102.60. Tenkan and Kijun-sen lines formed a golden cross, confirming the short-term market optimism. The picture remains positive as long a the price holds above 102.00 - the Cloud will likely be broken to the upside.
Chart. Daily USD/JPY
H4. There is a corrective sentiment seen on the H4 chart, but we see it as a temporary move after the strong rise earlier in the week.There is a chance to extend the bearish correction to the upper border of the Ichimoku. The indictor looks positive: bullish Cloud, active gold cross.
Chart. H4 USD/JPY