01.03.201811:05 Forex Analysis & Reviews: The daily review of the currency pair EUR / JPY as of March 1, 2018. Ichimoku Indicator

EUR/JPY

Senior timeframes

The players on the fall in February realized a retreat from the upper boundary of the monthly cloud and performed a correction to the monthly Tenkan (129.95). If the short-term trend can remain on the down side in March, it will make it possible to continue the development of the downward correction, which will be guided by other levels of the monthly gold cross (Fibo Kijun 126.83 + Kijun 123.54). Simultaneously with the meeting with the monthly Tenkan, the bears worked out a downward target for the breakdown of the day's cloud, as a result, one can now expect pauses and braking. The nearest resistance in the current situation can be noted at 130.76 - 131.43 - 132.54.

H4-H1

The expected target benchmark (129.95) has been worked out quite accurately, the consequence is the formation of an upward correction. Resistance today are located at 130.43 (Kijun H1) - 130.76 (Tenkan H4 + high-time level) - 131.43 (the final crosses of the cross H4 + cloud H1 + day Tenkan). The consolidation of these resistances above will change the balance of forces and form the first upward guidance.

Indicator parameters:

All time intervals 9 - 26 - 52

The color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is 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.