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> Technical Analysis 20.10.2017 - EUR/JPY: Ichimoku clouds
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Technical Analysis 20.10.2017 - EUR/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 crossing the price chart from below, current cloud is going to reverse from descending to 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 (133.03). One of the previous maximums of Chikou Span line is expected to be a resistance level (134.12).

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 broken through Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (133.06). One of the previous maximums of Chikou Span line is expected to be a resistance level (134.26).

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-20102017-eurjpy-ichimoku-clouds/?camp=24219
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