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Ichimoku Indicator

07.02.201813:48 Forex Analysis & Reviews: Daily review of GBP / JPY and EUR / JPY pairs as of 07.02.18. Ichimoku Indicator

Long-term review

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GBP / JPY pair

Despite yesterday's attempts to raise the position of the players who are guarding the day's cross (Kijun 153.37 + Tenkan 153.88), the week-old Tenkan (152,99) remains on the side of the bears. The current task of the players on the fall is the retention of the achieved positions. The next step will be testing the supports of the monthly Kijun (151.07) and the weekly Fibo Kijun (149.98), which are now strengthening the support of the daytime cloud.

The pair is in the zone of an upward correction. Today, the Resistance is still located at 152.98 - 153.37 - 153.89 - 154.51. The consolidation above will form new upward guidance points and will require a new assessment of the situation. If the correction is completed, the next downward guidance did not change to 151.07 - 149.98 (the high timeframe levels + the target for H4 cloud breakdown).

EUR / JPY pair

The pair remains under the key level of this plot at 135.74 (the monthly Senkou Span A). Prospects of players on the decline continue to rest against the week-old Tenkan (134,78). Overcoming the level will test the support of the day's cloud, which will open the way to the support of 133.70 (Fibo Kijun) and 132.53 (Kijun) for next week.

At the moment, the pair is in the correction zone and continues to struggle in the levels of attraction and resistance - 134.78 (weekly Tenkan) - 135.28 (daytime Kijun + cross N1 + cloud H4) - 135.74 (day Tenkan + month Senkou Span A + Kijun N4 + Senkou Span B N1) - 136.15 (Fibo Kijun N4). In case of exit from the zone of upward correction, the benchmarks for the decline will be the high-tier levels (133.70 - 132.53) and the target for the breakdown of the H4 cloud.

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.

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