USDJPY H1: The Ichimoku Forecast for the European Session at 4.12.2024
04.12.2024 09:16
Technical
The most significant signal of the previous trading sessions was the intersection of the Tenkan and Kijun lines, which is considered as a signal of a change in trend in the market.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The market price remains above the Tenkan and the Kijun lines, indicating a prevailing positive market sentiment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
Currently, the Kumo cloud lines represent a dynamic support area for price.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic support levels are on the Tenkan line, around the 149.843 mark, the Kijun line, around the 149.438 mark, the SenkouA line, at the 149.814mark, and the SenkouB line, around the 149.910 mark.
The current situation:
Let's carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The market price remains above the Tenkan and the Kijun lines, indicating a prevailing positive market sentiment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
Currently, the Kumo cloud lines represent a dynamic support area for price.
The Chinkou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic support levels are on the Tenkan line, around the 149.843 mark, the Kijun line, around the 149.438 mark, the SenkouA line, at the 149.814mark, and the SenkouB line, around the 149.910 mark.