EUR/JPY: ICHIMOKU INDICATORS ANALYSIS

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EUR/JPY: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point153.905
Take Profit152.731
Stop Loss154.355
Key Levels152.731, 153.302, 154.355, 155.740
EUR/JPY: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Tenkan-sen line (154.355). One of the previous maximums of Chikou Span line is expected to be a resistance level (152.731).


EUR/JPY: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (153.302). The closest resistance level is Tenkan-sen line (155.740).


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 (152.731) and Stop Loss at the level of Kijun-sen line (154.355).

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