Published On: Wed, Mar 15th, 2017

AUD/JPY: Ichimoku clouds

InstaForex
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud has reversed from descending to ascending. The instrument has broken through the cloud and slowed down its growth. The closest support level is Tenkan-sen line (86.820). One of the previous maximums of Chikou Span line is expected to be a resistance level (87.050). On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (86.740). One of the previous maximums of Chikou Span line is expected to be a resistance level (87.300).
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (87.050) line and Stop Loss at the level of Kijun-sen line (86.820).

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Forex Analysis

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