AUD/JPY: Ichimoku clouds



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 approaching the price chart from below, current cloud is descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (74.20). The closest resistance level is the lower border of the cloud (74.35).




On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is ascending. The instrument has broken down Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (74.12). The closest resistance level is Tenkan-sen line (74.36).


On the four-hour chart the instrument is trading within the cloud. On the daily chart we can see the beginning of the trend reversal. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 74.20, with Take Profit at 74.05 and Stop Loss at 74.35; buy at the level of 74.35, with Take Profit at 74.48 and Stop Loss at 74.20.

Scenario

  • Timeframe

    Weekly

  • Recommendation

    SELL STOP

  • Entry Point

    74.20

  • Take Profit

    74.05

  • Stop Loss

    74.35

  • Key Levels

    74.12, 74.36

Alternative scenario

  • Timeframe

    Weekly

  • Recommendation

    BUY STOP

  • Entry Point

    74.35

  • Take Profit

    74.48

  • Stop Loss

    74.20

  • Key Levels

    74.12, 74.36

Tifia trading account

Open

AUD/JPY forecast for today.