EUR/JPY: ICHIMOKU INDICATORS ANALYSIS

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EUR/JPY: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point167.905
Take Profit166.848
Stop Loss168.329
Key Levels166.848,167.330,168.329,168.<wbr>828
EUR/JPY: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the upper border of the cloud (166.848). The closest resistance level is Kijun-sen line (168.329).


EUR/JPY: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (168.828). The closest resistance level is Tenkan-sen line (167.330).


On the four-hour chart the instrument is still falling. On the daily chart the Bullish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (166.848) and Stop Loss at the level of Kijun-sen line (168.329).


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