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> Technical Analysis 25.10.2017 - AUD/JPY: Ichimoku clouds
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Technical Analysis 25.10.2017 - AUD/JPY: Ichimoku clouds

STO

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Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (87.642). The closest resistance level is the upper border of the cloud (88.041).

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading around upper border of the cloud. The closest support level is the lower border of the cloud (87.482). The closest resistance level is Tenkan-sen line (88.316).

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-25102017-audjpy-ichimoku-clouds/?camp=24219
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