Technical Analysis USD/TRY, EUR/JPY

16 June, 2017

The Tenkan-sen line is below the Kijun-sen, on the daily chart above - the lines are horizontal. The Chikou Span confirmative line is dipping under the price chart, indicating that the Ichimoku cloud is descending. USD/TRY in correlation is trading below price the lines delineated by Tenkan-sen and Kijun-sen; Indicating a preservation of the currency pairs bearish trend. The last level of the Chikou Span line is the proximate support line at 3.49388 and the most proximate resistance at 3.55809 is defined by the Kijun-sen line.

Again in the chart above we see the Tenkan-sen line dipping below the Kijun-sen line, the red line heading towards the bottom of the chart, and the blue remaining firmly horizontal. The Chikou Span confirmative line is rising from the bottom of the daily chart, indicating towards an ascending cloud. The price of the EUR/JPY pair is sitting directly in the middle of Tenkan-sen and Kijun-sen. Support is set by the Tenkan-sen line at 123.300 and resistance is denoted by the Kijun-sen line at 124.125.


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