FX.co ★ GBP/JPY

Hello traders, The Ichimoku Cloud is hindering market growth, formed by the Tenkan-Sen conversion line crossing above the Kijun-Sen base line at 197.226 and 196.983 respectively. The cloud consists of Senkou Span A at 197.536 and Senkou Span B at 197.969. The Senkou Span B line holds more weight in the Kumo than Senkou Span A, where a holding of the upward trend may occur due to the formation of a golden cross. I will attempt to buy, but will closely monitor the market reaction when entering the cloud. If prices are held below or within the cloud and the market does not want to move upwards, then I will close my purchases. A market breakout above the cloud provides a strong signal for growth. Following this, one can maintain the position, expecting the upward trend to continue. Additionally, it will be possible to place more buy orders.