03.04.201809:58 Forex Analysis & Reviews: The daily review of the GBP / JPY pair on 03.04.18. Ichimoku Indicator

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP / JPY pair

Higher timeframes

The situation has not changed in the last 24 hours. The pair continues to remain in the zone of influence and attraction of the lines of the day cross (Tenkan 149.11 + Fibo Kijun 148.43). The next supports are located at 147.95 (daily Kijun + month Tenkan) and 147.10 (daytime Fibo Kijun). Despite the breakout and another decline, the day gold cross allows you to keep the advantages on the players' side to increase. The breakdown of the current resistance at 150.77 - 152.13 (weekly Kijun + Fibo Kijun + day cloud) can significantly increase the opportunities for players to increase and create new prospects for them. If the pair loses the support of the day cross and consolidates under it, you can expect that the bears will try to implement a new full-fledged decline and will want to update the minimum extremum.

H4-H1

The zone of resistance marked yesterday at 149.70-90 did not allow players to rise to regain full support for the indicator Ichimoku on the lower timeframe. Today, this resistance zone remains important. The fastening in the bullish zone relative to the clouds H4 and H1, as well as, the turn of the Ichimoku cross on the H4 can be a good basis for the continuation of the rise and recovery of positions by the players to rise. Now, the tasks of the bears are set against the breakdown of the H4 cloud (148.75) and the liquidation of the day's golden cross (149.11 - 148.43 - 147.95 - 147.10).

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.