Ichimoku Cloud Analysis 22.05.2023 (EURUSD, USDJPY, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.0825 is expected, followed by a decline to 1.0645. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.0965, which will mean further growth to 1.1055.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting after a rebound from the upper border of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 137.55 is expected, followed by a rise to 140.45. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 134.35, which will mean a further decline to 133.45.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is pushing off the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 0.6660 is expected, followed by a decline to 0.6525. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6740, which will mean further growth to 0.6830. Meanwhile, the decline could be confirmed by a breakout of the lower border of the bullish channel, securing under 0.6590.