Monday, April 25, 2016

EUR/JPY: Ichimoku Clouds

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Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 125.26
Take Profit 123.62
Stop Loss 126.32
Key Levels 123.62, 124.29, 124.97, 126.32
 
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 is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (125.16). One of the previous maximums of Chikou Span line is expected to be a resistance level (125.47).
  
Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (124.97). One of the previous maximums of Chikou Span line is expected to be a resistance level (126.32).
On the both charts the instrument is still falling.
 
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