In today’s Forex market Ichimoku outlook we will take a closer look at two crosses: EUR/SEK and GBP/JPY. You can read more about Japanese trading technique Ichimoku Kinko Hyo here.
EUR/SEK
There is an active sell signal on the pair. Price after breaking below the cloud consolidates for more than week in the vicinity of the lower Kumo band, letting us open short positions.
GBP/JPY
British pound to Japanese yen can still give an interesting sell signal. If today’s daily candle closes below the cloud (and what is even better below Kijun line), it will be a great opportunity to activate short positions. However, the weekly chart can be a little bit worrying for GBP bears – it looks that correction on the cross may take sideway turn and price will not fall enough to guarantee satisfactory profit.
