AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

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AUD/JPY: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point97.915
Take Profit101.068
Stop Loss96.848
Key Levels95.104, 98.747, 96.848, 98.641
AUD/JPY: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. 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 (95.104). One of the previous maximums of Chikou Span line is expected to be a resistance level (98.747).




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 descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Tenkan-sen and Kijun-sen lines have become support (96.848) and resistance (98.641) levels respectively


On the four-hour chart we can see a correction of the upward movement. On the daily chart we can see the beginning of the trend reversal. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (101.068) line and Stop Loss at the level of Kijun-sen line (96.848).


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