AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

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AUD/JPY: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point96.385
Take Profit92.160
Stop Loss97.978
Key Levels96.075, 96.860, 94.963, 98.010
AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud has reversed from ascending to descending. The instrument has broken down Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (96.075). The closest resistance level is Tenkan-sen line (96.860).


AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line has crossed Kijun-sen from below, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (94.963) and resistance (98.010) levels respectively


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 (92.160) and Stop Loss at the level of Kijun-sen line (97.978).


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