Technical Analysis 28.11.2017 - AUD/JPY: Ichimoku clouds

28 / 11 / 2017 | Technical Analysis
Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . 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 (84.220). The closest resistance level is Kijun-sen line (84.813).



On the daily 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 (84.000). The closest resistance level is Tenkan-sen line (85.196).



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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