GBP/JPY: Ichimoku indicators analysis
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 195.162 |
| Take Profit | 201.280 |
| Stop Loss | 192.079 |
| Key Levels | 193.605, 196.690, 189.775, 200.405 |
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 is ascending. The instrument has broken through Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (193.605). One of the previous maximums of Chikou Span line is expected to be a resistance level (196.690).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument has entered the cloud. The closest support level is Kijun-sen line (189.775). One of the previous maximums of Chikou Span line is expected to be a resistance level (200.405).
On the four-hour chart we can see a correction of the upward movement. On the daily chart we can see a correction of the upward movement. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (201.280) line and Stop Loss at the level of Kijun-sen line (192.079).
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