Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (83.06). One of the previous maximums of Chikou Span line is expected to be a resistance level (83.37).
On the four-hour chart we can see a correction of the downward movement. On the daily chart the Bearish trend is still strong. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (81.61) and Stop Loss at the level of Kijun-sen line (83.62).
|Key Levels||81.61, 82.75, 83.62|