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> Technical Analysis 2017.09.26 - EUR/JPY USD/JPY: Ichimoku clouds
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Technical Analysis 2017.09.26 - EUR/JPY USD/JPY: Ichimoku clouds

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Technical Analysis 2017.09.26 - EUR/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is going to reverse from ascending to descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (131.814). The closest resistance level is the lower border of the cloud (132.921).

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 is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (131.180). The closest resistance level is Tenkan-sen line (132.893).

USD/JPY: wave analysis
The pair is in correction. The fall is possible.

The wave C of the higher level, within which the development the first wave i has ended, is forming. At the moment the local correction as a wave ii is forming. If the assumption is correct, the price will fall to the level of 110.00. The level of 112.53 is critical for this scenario.

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-20170926-eurjpy-ichimoku-clouds/?camp=24219
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