Technical Analysis 01.05.2019 – EUR/JPY: Ichimoku clouds

01 / 05 / 2019 | Technical Analysis
Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending. The instrument has broken through Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (124.80). The closest resistance level is the upper border of the cloud (125.30).

On the daily 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 above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (124.30). The closest resistance level is Kijun-sen line (125.20).

The Technical Analysis is provided by Claws and Horns (Cyprus) Limited, an independent analytical company. Any views and opinions expressed are explicitly those of the writer. Any information contained in the article, is believed to be reliable, and has not been verified by STO and is not guaranteed to be accurate. References to specific products, are for illustrative purposes only and are not a form of solicitation, recommendation or investment advice. Past performance is not a guarantee of future performance.


Risk Warning:  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.66.36% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money.

The Financial Conduct Authority has notified AFX Markets Ltd, FRN: 560872 that must close all open trading positions held by it, whether on its own account or on accounts of its clients by no later than 7 August 2019. For further details click here.