Ichimoku is an investment strategy of trend following, it works great on H4, D1 and higher time frames. In this series of articles I present my setups and observations using Ichimoku, supports and resistances and Price Action patterns. You can also check previous Ichimoku overview.
AUDJPY
On the H4 chart we can see, that price came back above bullish Kumo cloud. Currently it is sliding on the Chikou Span A line. If in this place there will be any buy signal showing up, we can open long position with the target on the resistance in the 86.10 area. We have to be careful about Chikou Span line. Currently it is below the price and it doesn’t look like this situation should change in near time. We cannot open longs in these conditions.
CHFJPY
Another pair with Japanese yen, here the situation is reversed. On the H4 chart we can see, that price is still close to the lower band of bullish Kumo cloud. If there will be any sell signal in this area, we can open short position. The setting of Chikou Span line can help us. To open this position I recommend STO broker, which offers low spreads on the CHFJPY.
