20.06.201810:31 Forex Analysis & Reviews: The daily review of GBP / JPY as of June 20, 2018. Ichimoku Indicator

GBP / JPY

Yesterday, the players in the downgrade managed to realize an active and efficient decline, while the targets were worked out quite accurately. The pair tested support in the area of 144.34-48 (monthly Kijun + the lower boundary of the weekly cloud) and worked out the target for the breakdown of the H4 cloud (144.50) for the first target. The main task for bears in the current situation is to limit the ability of the upward correction in the process of braking and the breakdown of the supported supports. Overcoming (144.48-34-11) will allow to form new downward benchmarks, such as the recovery of the downtrend and 100% working day target (143.17-09), as well as the bearish goal for the breakdown of the weekly cloud.

At the moment, we observe a slight inhibition and nucleation at the lower time intervals of the upward correction. To develop a full-fledged correction, it is necessary to note the resistance - 145.40 (Tenkan H4 + Senkou Span A N1) - 145.78 (Fibo Kijun N4 + Senkou Span B N1 + daytime Fibo Kijun) - 146.15 (Kijun N4 + day Tenkan). The transition of each of these resistances to the side of players on the rise will allow changing the existing balance of power and increasing bullish prospects.

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.