empty
 
 
31.01.2018 12:37 PM
Daily review of GBP / JPY and EUR / JPY pairs as of January 31. Ichimoku Indicator

GBP / JPY pair

This image is no longer relevant

When testing the most important supports of this area (daytime Fibo Kijun 152.42 + week-old Tenkan 152.72), the players on the slide have limited themselves only to the long lower shadow and daylight from the levels. The pair is in the correction zone at the moment. Bears need to liquidate the daily cross and overcome support for the weekly short-term trend (152.42-72) to strengthen their positions and continue to decline. As of now, the task of bulls is to return and test the resistance of the monthly timeframe of Kijun at 155.56 and Senkou Span B at 156.32.

This image is no longer relevant

Yesterday, the pair kept working on the H4 cloud. Currently, the advantages of the players to rise are limited to Ichimoku clouds found in lower time intervals. A reliable anchorage in the bullish zone relative to the cloudiness will return the pair in testing the resistance of the older timeframes at 155.56 - 156.32. In the current situation, plans of players to fall are supported by support, whereas support levels at 153.81 - 153.11 - 152.42 are important to be considered today.

EUR / JPY pair

This image is no longer relevant

Interaction with key support (a week-long Tenkan 134.31 + daytime Fibo Kijun 134.37) did not bring decent results for the players to fall. After the formation of the long lower shadows, attempts are still being made to restore the players' positions to rise. At the moment, we are working with a daily short-term trend at 135.22, but the most important one still has to be the monthly Senkou Span A at 135.74.

This image is no longer relevant

As expected, the strength of the support formed an upward correction. Now the players on the rise are close in restoring all their advantages on the lower timeframe. Thus, they need to overcome the H1 and H4 clouds, and eliminate the H4 cross (Kijun 135.22 + Fibo Kijun 135.47).The key resistance of the lower half is now strengthened by the monthly Senkou Span A at 135.74. Today, the main support remains in their position at 134.80 and 134.31.

Indicator parameters:

all time intervals 9 - 26 - 52

Color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chikou is gray,

clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

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.

Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback