08.01.201811:54 Forex Analysis & Reviews: Daily review of GBP / JPY and EUR / JPY on 08.01.18. Ichimoku Indicator

GBP / JPY

By the end of last week, the players on the upgrade managed to update the maximum extreme of correction (153.38). If the pair can now overcome this resistance, then the following upward milestones are the monthly Kijun levels (155.56) and Senkou Span B (156.32). The formation of a rebound will return the pair to support, the daytime Tenkan (152.41) is now playing the role of the nearest support.

At H4, the target for the breakdown of the cloud is fulfilled. Overcoming the goal can provoke a further rise of the pair, but if the braking is delayed, then another downward correction cannot be avoided. The nearest landmarks for the decline today are located at 153.20 (Tenkan H4 + H1 cloud) - 152.70 (Kijun N4 + lower boundary of the H1 cloud) - 152.41 (daytime Tenkan + final crosses of the H4 cross).

EUR / JPY

Last week, the pair closed above the monthly Senkou Span A (135.74), but at the same time, the Candle falling star was formed on Friday in the daily timeframe. The confirmation of bearish sentiments and the formation of a rebound will return the pair to a corrective decrease, the main targets of which are the weekly cross levels (Tenkan 133.86 + Kijun 132.05), intermediate support in this situation can be noted at the levels of the day cross (Tenkan 135.38 + Kijun 134.30).

At the moment, the pair has reached the support zone 135,74-67, here Kidzhun N4, Senkou Span B N1 and the monthly level joined forces. The breakdown will significantly change the balance of forces, since the gold cross of H4 will be liquidated and a downward target for the breakdown of the H1 cloud is formed. The next important support will be the cloud H4, on the way to which it is necessary to note daily Tenkan (135.38). Now, for the players to regain their advantages and sentiments, you need to restore positions above the resistance of 136.27 (Tenkan H4 + Kijun H1 + the upper boundary of the cloud H1).

Parameters of the indicator:

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 additional lines:

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

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.