Published On: Tue, Mar 21st, 2017

AUD/JPY: Ichimoku clouds

InstaForex
Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from above, current cloud is ascending. The instrument has broken down Tenkan-sen and Kijun-sen lines. The closest support level is the lower border of the cloud (86.63). One of the previous maximums of Chikou Span line is expected to be a resistance level (87.45). On the daily chart Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has broken down Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (86.64). One of the previous maximums of Chikou Span line is expected to be a resistance level (87.47).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (87.45) and Stop Loss at the upper border of the cloud (86.63).

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