Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading around upper border of the cloud. The closest support level is the lower border of the cloud (123.381). The closest resistance level is Tenkan-sen line (124.226). On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from above, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (123.506). One of the previous maximums of Chikou Span line is expected to be a resistance level (124.870).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (124.870) and Stop Loss at the upper border of the cloud (122.450).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (124.870) and Stop Loss at the upper border of the cloud (122.450).