AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

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AUD/JPY: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point94.764
Take Profit90.830
Stop Loss96.066
Key Levels94.110, 95.098, 93.624, 96.604
AUD/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 is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (94.110). The closest resistance level is Tenkan-sen line (95.098).


AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen and Kijun-sen lines have merged, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span has crossed the price chart from below, 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 (93.624). The closest resistance level is Kijun-sen line (96.604).


On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (90.830) and Stop Loss at the level of Kijun-sen line (96.066).


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