Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.0782). The closest resistance level is the lower border of the cloud (1.0828).

On the daily 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 below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the lower border of the cloud (1.0816). The closest resistance level is Tenkan-sen line (1.0652).

On the four-hour chart the instrument is trading within the cloud. On the daily chart we can see a correction of the upward movement. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (1.0652) and Stop Loss at the lower border of the cloud (1.0816).