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EUR/JPY: Ichimoku indicators analysis

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EUR/JPY: Ichimoku indicators analysis
EUR/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 has crossed the price chart from above, current cloud has reversed from ascending to descending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (158.380) and resistance (160.136) levels


EUR/JPY: Ichimoku indicators analysis

On the daily chart Tenkan-sen line has crossed Kijun-sen from below, 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 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 (155.919). The closest resistance level is Tenkan-sen line (160.565).


On the four-hour chart the instrument has broken down the cloud, forming a strong signal to sell. On the daily chart the instrument has broken down the cloud, forming a strong signal to sell. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (153.165) and Stop Loss at the level of Kijun-sen line (160.789).


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