21.02.201811:18 Forex Analysis & Reviews: The daily review of the currency pairs GBP / JPY and EUR / JPY as of 21.02.18. Ichimoku Indicator

GBP/JPY

The players on the increase still insisted on a full-fledged daily upward correction and retest of the previous levels. At the moment, the optimum depth of ascent has been reached (150.30 - 151). Now, the bears do not benefit from the transition of the daily short-term trend to the opponent's side. It is undesirable also to be permanently fixed in the daytime cloud, and players on the rise, on the contrary, need a delay in the daily bullish cloud and rise to the next resistance of 152.26 (weekday Tenkan + daily Kijun). As a result, the result of interaction with the current resistance will determine the further development of events.

The main advantage at the lower halves is now on the side of the players on the rise. Their goal is to overcome the resistances encountered and go into the bull zone outside the cloud of the H4. The task of the players to fall is to complete the climb, form a retreat from the resistances encountered and continue the decline with new forces. Today, the resistance can be noted in the area of 151 and 152.26, the support can be provided by 150.30 - 149.80 - 149, then the main importance will be the renewal of the minimum extremum (147.94) and a new attempt to overcome the high-tier levels 147.90-60.

EUR / JPY

The pair reached the day's Tenkan (132.86) level, where correction movements often end. In case of rebound formation and the renewal of the minimum (131.58), we can expect a new phase of decline, whose targets remain the daily target for the breakdown of the cloud (130.76-01), strengthened by the monthly Tenkan (129.95). Other nearby resistance today can be noted at 133.44 - 133.86 - 134.55.

The execution of the target for the breakdown of the H1 cloud, reinforced by the day Tenkan (132.86) is a good reason to complete the corrective lift and continue the decline. The next task of the players to downgrade is to exit the correction zone, restore the main downtrend (131.58) and decrease to the high-seasons benchmarks (130.76 - 129.95). In the case of breakdown of the resistances 132.86 - 133, the following upward levels are located at 133.44 - 133.86 - 134.55.

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.