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USD/JPY: general review 21 May 2019, 14:14

USD/JPY: general review 21 May 2019, 14:14 Scenario Timeframe Weekly Recommendation BUY Entry Point 110.26 Take Prof...

Mar 14, 2019

EUR/JPY: Ichimoku clouds 14 March 2019, 06:33


Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 126.28
Take Profit 126.80
Stop Loss 125.89
Key Levels 125.78 125.89 126.80 127.50


Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has broken through the cloud and slowed down its growth. The closest support level is the upper border of the cloud (125.89). One of the previous maximums of Chikou Span line is expected to be a resistance level (126.80).



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 above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (125.78). One of the previous maximums of Chikou Span line is expected to be a resistance level (127.50).

It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (126.80) and Stop Loss at the upper border of the cloud (125.89).

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