This analysis is after the event and therefore has the benefit of hindsight. However I want to explain how I use Ichimoku on a 4 hour chart.
 
On December 31st the price broke downwards through the "Lead 2" cloud (senkou span B). The Lead 2 indicator is 50% of the range for the past 52 periods. This is a signal for me to trade SHORT , provided that the Lagging Line is in what I call free space, which in this case it eventually did.
 
The trade reached its profit point on January 3rd.
 
The Lead 2 indicator is a "strong" one for me as it shows a level of support/resistance for the past 52 periods. It is therefore the "strongest level of support/resistance when compared to the other indicators.
 
I am happy to clarify - darryl@methodandmadness.org

An example of how I would go SHORT on USD/JPY using Ichimoku Cloud Indicator - 4 hour chart

Dec 01 2020

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