Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red 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 Kijun-sen line (1.50130). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.48670).

On the daily chart Tenkan-sen and Kijun-sen lines have merged, both lines are directed downwards. Confirmative line Chikou Span is approaching the price chart from below, current cloud is ascending. The instrument is trading around lower border of the cloud. Merged Tenkan-sen and Kijun-sen lines have become a strong support level (1.50200). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.48255).

On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (1.48670) and Stop Loss at the level of Kijun-sen line (1.50130).