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17.10.201710:19 Forex Analysis & Reviews: The daily review of GBP / JPY and EUR / JPY on 17/10/17. 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

Exchange Rates 17.10.2017 analysis

They do not want to go up, they can not go down. Or vice versa? The pair continues to remain under the resistance of 149.24 (the monthly Fibo Kijun), resting now in the support of the daily cross (148,18-36). Overcoming the support and attraction of the day cross will open the way for testing the strength of the week-long cross (146.06-145.74). In the case of a reliable fastening above the resistance (149.24), it is difficult to speak about the early recovery of the uptrend, but the players on the rise can continue their ascent, strengthening their moods.

Exchange Rates 17.10.2017 analysis

The pair continues to remain in the uncertainty of the H4 cloud. The breakdown of the upper limit, now strengthened by the monthly level (149.24), will form a new upward target on H4. Overcoming the lower boundary of the cloud H4, strengthened today by the day cross (148.18-36), will form a downward target on H1.

EUR / JPY

Exchange Rates 17.10.2017 analysis

The next testing of the final boundaries of the day's cross did not immediately break down. As a result, players on the downgrade to breakdown and confirmation can now take time. Today, Fibo Kijun (132.06) is supporting the day and all other levels of the day. Still, the golden cross is resistances (132.51-58-96).

Exchange Rates 17.10.2017 analysis

For the players on the slide, which still owns the main support for the Ichimoku indicator, it is important to leave the zone of the previous consolidation, after which they can continue the decline to the weekly Tenkan (131.13) and to the goal targets for the breakdown of the H4 cloud. For players at the moment, the center of the consolidation zone has not lost its relevance, today it is 132.51-58 (Kijun H4 + cloud H4 + cloud H1 + day cross), then it is important to overcome the upper boundary of the zone, which can now be designated within 131.96 (daytime Fibo Kijun) - 132.08 (historical level) - 133.51 (the last maximum extremum).

Indicator parameters:

All time intervals 9 - 26 - 52

The color of the indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun - green dotted line,

Chinkou - gray,

Clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

The color of the additional lines:

Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.

Evangelos Poulakis
Analytical expert of InstaForex
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