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> Technical Analysis 24.10.2017 - EUR/JPY: Ichimoku clouds
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Technical Analysis 24.10.2017 - 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 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 (133.025). The closest resistance level is Tenkan-sen line (133.601).

Let's look at the daily chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (133.022). One of the previous maximums of Chikou Span line is expected to be a resistance level (133.677).

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-24102017-eurjpy-ichimoku-clouds/?camp=24219
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