Welcome in today’s Daily Forex Market Ichimoku Outlook where we analyze the most interesting currency pairs using one of the most effective Japanese trading techniqe. If you did not heard about Ichimoku Kinko Hyo before, you could find some useful information here.
There are only two currency pairs for today – EUR/NZD and GBP/JPY – but they generated really nice setups.
EUR/NZD
Kumo breakout signal is still active. It is a weak one though, but when we activate good SL it may give really nice risk reward. Daily chart shows falls, but the first resistance in the case of the correction is more than 200 pips higher than the current price.
GBP/JPY
Really great signal may show up on British pound sterling to Japanese yen. Price approached Kijun line, surroundings of lower Kumo band and technical resistance. Those parts forms a really strong level. Rebound here will be a sell signal – stop loss may be put above today’s candle. Even targeting the last minimum should give us RR around 3:1. If target would be placed on the next technical support, then it would get to +200 pips profit.
