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Technical Analysis 07.05.2019 – EUR/JPY: Ichimoku clouds
On the daily chart Tenkan-sen line has crossed Kijun-sen from above, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span has crossed the price chart from above, 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 (123.60). The closest resistance level is Tenkan-sen line (124.27).
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.