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USD/JPY ICHIMOKU ANALYSIS (BEARS/BULLS)

FX:USDJPY   U.S. Dollar/Japanese Yen
On the Daily Chart , Tenkan-sen line is above the Kijun-sen line. Red-line is horizontal, while blue line is directed downwards. Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending.

Instrument is trading below Tenkan-sen and Kijun-sen lines; bearish trend is still strong. One of the previous minimums of Chikou Span expected to be a support level (100.50). The closest resistance level is Kijun-sen line (103.50).

Recommended to open short positions @ current price with TP at the level of previous minimums of Chikous-span line (100.50) and SL @ the level of Kijun-sen line (103.50)
Trade active:
snapshot


Buy @ 102.30 TP : 103.50 (12o pips) SL; soon.....
Trade active:
snapshot


Update :
- Tenkan-sen line has crossed Kijun-sen from below, lines are horizontal.
- Confirmative line Chikou Span is crossing the price chart form below.
- Current cloud descending. Instrument trading above Tenkan-sen & kijun-sen lines
- Chikou span previous min expected to be a support level (102.00)
- Closest resistance is lower border of the cloud (103.40)

LONG POSITIONS STILL VALID, TARGET REMAINS AREA OF 103.50
SL (101.66)
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