Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from above, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (0.8808). The closest resistance level is the lower border of the cloud (0.8822).
On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span has crossed the price chart from below, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the upper border of the cloud (0.8801). The closest resistance level is Tenkan-sen line (0.8821).
Recommendation
On the four-hour chart we can see a correction of the upward movement. On the daily chart the Bearish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.8853) line and Stop Loss at the level of Kijun-sen line (0.8791).


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