GBPJPY analysis 23 AGU 16 Ichimoku clouds
Let’s check up on the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, because the red one remains horizontal. Verifying line Chikou Span is on top of the value chart GBPJPY analysis 23 AGU 16, the current cloud goes to reverse from descending to ascending. The instrument is trading round the upper border of the cloud. The nearest support level is that the higher border of the cloud (131.59). one among the previous maximums of the Chikou Span line is predicted to be a resistance level (132.03).
On the daily chart GBPJPY analysis:
On the daily chart Tenkan-sen line is below Kijun-sen, the blue line is directed down, because the red one remains horizontal. Verifying line Chikou Span has crossed the value chart from on top of, the current cloud is down. The instrument is trading between Tenkan-sen and Kijun-sen lines. The nearest support level is Tenkan-sen line (130.76). The nearest resistance level is that the upper border of the cloud (133.22).
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GBPJPY analysis 23 AGU 16 our Recommendation:
On the each chart, the instrument is still falling. It’s counseled to open long positions at current price with Take Profit at the level of the previous most of Chikou Span (132.26) line and Stop Loss at the level of Kijun-sen line (131.11).