Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are 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 (128.840). The closest resistance level is Kijun-sen line (129.428).
On the daily chart Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from below, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the upper border of the cloud (127.410). Merged Tenkan-sen and Kijun-sen lines have become a strong resistance level (129.718).
On the four-hour chart we can see a correction of the downward movement. On the daily chart we can see a correction of the downward movement. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (128.518) and Stop Loss at the level of Kijun-sen line (129.718).
On the daily chart Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from below, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the upper border of the cloud (127.410). Merged Tenkan-sen and Kijun-sen lines have become a strong resistance level (129.718).
On the four-hour chart we can see a correction of the downward movement. On the daily chart we can see a correction of the downward movement. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (128.518) and Stop Loss at the level of Kijun-sen line (129.718).