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Ichimoku Indicator

23.05.201810:49 Forex Analysis & Reviews: The daily review of the currency pair GBP / JPY for May 23, 2018. Ichimoku Indicator

Long-term review

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GBP / JPY

As expected, the bears' offensive held back support for short-term trends (daytime Tenkan 148.71 + monthly Tenkan 148.88), their passage led to an active decline. At the lower timeframes, the passed levels formed today a strengthened zone of resistance (148.70-95), joining forces with clouds H4 and H1. The aim and main goal of the reduction is still the breakdown of the upper boundary of the weekly cloud (Senkou Span A 147.66) and the recovery of the downtrend (maximum extremum 147.03). In addition, a downward target was formed for the breakdown of the H4 cloud (146.42-77). The passage of these landmarks and reliable anchoring below will open the prospect of descent to the lower boundary of the weekly cloud (Senkou Span B 144.48), strengthened by the monthly medium-term trend (144.34).

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.

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