Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from below, the red line is directed downwards, while the blue one remains 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 (4877.5). The closest resistance level is the lower border of the cloud (4995.5).
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 approaching the price chart from above, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (4896.5) and resistance (4995.6) levels respectively
On the four-hour chart the instrument has broken down the cloud, forming a strong signal to sell. On the daily chart we can see the beginning of the trend reversal. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (4836.0) and Stop Loss at the level of Kijun-sen line (4951.0).
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