01.02.201812:07 Forex Analysis & Reviews: Daily review of GBP / JPY and EUR / JPY pairs as of 01.02.18. Ichimoku Indicator

GBP / JPY pair

The strength of the support (daytime cross 152.42 + week-old Tenkan 152.72) returned the pair under monthly resistance. In February, the GBP/JPY pair starts under a monthly cloud (Senkou Span B 156,32). At the same time, the medium-term trend (Kijun 151.07) withdrew from the course of players to rise and continued working in changing the monthly dead cross of Ichimoku. Thanks to this, a broad enough and strong zone of support of bullish interests were formed, but the breakdown of the lower boundary of the monthly cloud and the present consolidation coincide with the liquidation of the monthly dead cross (Fibo Kijun 157.27).

Currently, the advantages on the players' side to rise but, the resistance of the target to the breakdown of the H1 cloud loomed above them. Further prospects for bulls now rest on the H1 goal (155,44-83), the renewal of the maximum boundary (156.06) and the monthly Senkou Span B (156.32). In the event that the resistance force squeezes out players today for an increase under the Tenkan H1 and the upper boundary of the cloud H4 (155.00), the nearest support can be noted at 154.48 (Tenkan N4 + Kijun N1). Then, the strongest zone is at 154-153, 80 (day levels + Kijun H4 + Senkou Span B N4 + cloud H1). It is possible for the values to reach the levels of 153.11 - 152.42.

EUR / JPY pair

Some advantage is fixed on the players on the fall, as the pair could not close outside the monthly cloud (Senkou Span A 135.74) in January. Interaction with the upper boundary of the cloud continues. Conclusions and expectations remain the same. Breakdown of the cloud will form new upward guidance, a full retreat will contribute to the development of correction, one of the benchmarks will be a monthly short-term trend.

At the moment, the players on the rise enjoy the support of all elements of the indicator Ichimoku and continue to rise. The current targets are the breakdown of the H1 cloud (136.05-27), the renewal of the maximum boundary (136.56), and achieving the target of breaking the H4 cloud. Today, support levels that should be noted are at 135.74 - 135.23 - 134.79 - 134.31.

Indicator parameters:

all time intervals 9 - 26 - 52

Color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chikou is gray,

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

Senkou Span A (SSA) - pink.

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.