Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed upwards, 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 the lower border of the cloud (1.09562). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.07924).

On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. Merged Tenkan-sen and Kijun-sen lines have become a strong support level (1.09758). The closest resistance level is the lower border of the cloud (1.07313).

On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.07924) and Stop Loss at the level of Kijun-sen line (1.09562).