Technical Analysis 29.11.2017 - EUR/JPY: Ichimoku clouds

29 / 11 / 2017 | Technical Analysis
Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is going to reverse from descending to ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (131.96). The closest resistance level is Tenkan-sen line (132.13).



On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the lower border of the cloud (130.96). The closest resistance level is Tenkan-sen line (132.29).



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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