AUD/JPY: ICHIMOKU INDICATORS ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 97.661 |
| Take Profit | 99.250 |
| Stop Loss | 97.271 |
| Key Levels | 97.282, 98.190, 97.271, 98.189 |
Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (97.282). The closest resistance level is the upper border of the cloud (98.190).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (97.271) and resistance (98.189) levels respectively
On the four-hour chart we can see a correction of the upward movement. On the daily chart we can see a correction of the upward movement. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (99.250) line and Stop Loss at the level of Kijun-sen line (97.271).
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