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> Technical Analysis 2017.10.02 - EUR/JPY: Ichimoku clouds
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Technical Analysis 2017.10.02 - EUR/JPY: Ichimoku clouds

STO

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Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument is trading around upper border of the cloud. The closest support level is Tenkan-sen line (132.68). The closest resistance level is the lower border of the cloud (133.05).

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 Tenkan-sen line (132.50). The closest resistance level is Tenkan-sen line (133.04).

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-02-10-2017
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