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> Technical Analysis 05.10.2017 AUD/JPY: Ichimoku clouds
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Technical Analysis 05.10.2017 AUD/JPY: Ichimoku clouds

STO

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Let's look at the four-hour 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 descending.

The instrument is trading around lower border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (88.21). The closest resistance level is Kijun-sen line (88.35).

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 ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (87.86). The closest resistance level is Kijun-sen line (88.41).

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-05/?camp=24219
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