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> Technical Analysis 16.10.2017 - EUR/JPY: Ichimoku clouds
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Technical Analysis 16.10.2017 - EUR/JPY: Ichimoku clouds

STO

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Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has broken down the cloud and is still falling. One of the previous minimums of Chikou Span line is expected to be a support level (131.211). The closest resistance level is the upper border of the cloud (132.311).

On the daily chart Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has broken down Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (130.074). The closest resistance level is Kijun-sen line (132.157).

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-16102017-eurjpy-ichimoku-clouds/?camp=24219
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