Price has been consolidating within the kumo cloud after
failing to break above. Now instead working on a bearish
kumobreak. Support from here below the dailly pivot point
comes in by the Flag trendline and white Kijun line with
additional support by pivot confluence just below. A break
below may expose current lows around 1,2360. A close above
1,2530 is needed for H4 trend to turn bullish. It looks like price
wants to stay in Neutral/bearish territory for now, and with an
approaching Kumocloud wall, price is making a move lower to
avoid "stepping sideways" into bullish trend (trading above
kumo cloud). For bulls to work with is the Kumo/Kijun flat
(invisible) support level at 1,2480 and the bullish TK cross
that appeared yesterday. Also note additional support at
1,2560 by long flat Senkou span (red line)
failing to break above. Now instead working on a bearish
kumobreak. Support from here below the dailly pivot point
comes in by the Flag trendline and white Kijun line with
additional support by pivot confluence just below. A break
below may expose current lows around 1,2360. A close above
1,2530 is needed for H4 trend to turn bullish. It looks like price
wants to stay in Neutral/bearish territory for now, and with an
approaching Kumocloud wall, price is making a move lower to
avoid "stepping sideways" into bullish trend (trading above
kumo cloud). For bulls to work with is the Kumo/Kijun flat
(invisible) support level at 1,2480 and the bullish TK cross
that appeared yesterday. Also note additional support at
1,2560 by long flat Senkou span (red line)