AUD/JPY: Ichimoku indicators analysis
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 99.800 |
| Take Profit | 101.480 |
| Stop Loss | 99.130 |
| Key Levels | 97.470, 99.130, 101.480, 102.000 |
Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument is trading around upper border of the cloud. The closest support level is the upper border of the cloud (99.130). One of the previous maximums of Chikou Span line is expected to be a resistance level (101.480).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Kijun-sen line (97.470). One of the previous maximums of Chikou Span line is expected to be a resistance level (102.000).
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (101.480) line and Stop Loss at the level of Kijun-sen line (99.130).
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