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> Technical Analysis 06.10.2017 - EUR/JPY: Ichimoku clouds
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Technical Analysis 06.10.2017 - EUR/JPY: Ichimoku clouds

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Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. 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 (131.90). The closest resistance level is Tenkan-sen line (132.30). EUR/JPY: Ichimoku clouds.

On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (131.87). The closest resistance level is Tenkan-sen line (132.45).

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-06102017-eurjpy-ichimoku-clouds/?camp=24219
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