06.08.201819:17 Forex Analysis & Reviews: The daily review of GBP / JPY as of August 6, 2018. Ichimoku Indicator

GBP / JPY

The players on the fall fairly optimistically closed last week, down to support the monthly Fibo Kijun (144.46). At the moment, the outlook for the development of bearish sentiment is related to the exit from the correction zone, through the update of the minimum extremum 143.17. In the process of restoring the weekly downtrend, a downward target will be formed for the breakdown of the weekly cloud. On the way to the fulfillment of the goal is the final support for the monthly cross Ichimoku (140.69 - 136.94). Resistance today can be noted at 145.41 - 145.80 - 146.08 - 146.51.

The bears made it to the support of 144.46, as a result, braking and the development of an upward correction are possible now. Younger timeframes in this situation can be useful only with the ascent, as they will participate in the formation of resistance levels. Today, the resistance of H4 and H1 mostly coincide with the levels of the higher periods, only the nearest resistance 145.00 (Tenkan H4 + Kijun H1) is formed exclusively by lower jumps. In case of breakdown of support, the next nearest downside target is located at 143.17 (the minimum extremum).

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.