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=GBP/JPY: Ichimoku clouds 23 June 2017, 05:41


Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 141.367
Take Profit 141.659
Stop Loss 141.187
Key Levels 141.187, 140.743, 141.659, 141.845


Let's look at the four-hour 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 below the price chart, current cloud is ascending. The instrument has broken through Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (141.187). One of the previous maximums of Chikou Span line is expected to be a resistance level (141.659).



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. The closest support level is Tenkan-sen line (140.743). The closest resistance level is the upper border of the cloud (141.845).

It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (141.659) line and Stop Loss at the level of Kijun-sen line (141.187).
Από το Blogger.