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USD/CAD: technical analysis 16 July 2019, 11:19

USD/CAD: technical analysis 16 July 2019, 11:19 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.303...

May 16, 2019

AUD/JPY: Ichimoku clouds 16 May 2019, 08:19


Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 75.70
Take Profit 75.12
Stop Loss 76.31
Key Levels 74.98 75.12 76.31 76.71


Let's look at the four-hour 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 (75.12). The closest resistance level is Kijun-sen line (76.31).



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 (74.98). The closest resistance level is Tenkan-sen line (76.71).

On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (75.12) and Stop Loss at the level of Kijun-sen line (76.31).

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