For Traders

Analytical Reviews

Ichimoku Indicator

02.04.201811:30 Forex Analysis & Reviews: The daily review of EUR / JPY on April 2, 2018. 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.

EUR / JPY

Senior timeframes

The day-long dead cross is still alive. Its lines have entered the horizontal, as the players on the rise could not get rid of its attraction. The medium-term trend (130.66) is now used as support, and Fibo Kijun (131.07) served on Friday as resistance. Exit the zone of attraction of the day cross and continue the rise will completely eliminate the dead cross and test the new resistance of the week-long cross and daytime cloud (132.20 - 133.21 - 134.22). If the pair lose the support of the daily cross (130.25-35 Tenkan + Fibo Kijun), then we can expect the development of a new stage of decline.

H4-H1

Strengthening the above resistances (131.07-31) and updating the high of last week (131.79) opens new upside prospects, in addition for players to increase the working capacity of the target for the breakdown of the cloud H4. If we talk now about the prospects for players to fall, the most significant is the support zone 130.66-35. The breakout will mark the upside target of H4, form a downgrade and allow us to consider other bearish landmarks.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.