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21.09.2017 02:05 AM
Daily review of GBP / JPY and EUR / JPY as of 20.09.17. Ichimoku Indicator

GBP/JPY

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Over the past day, players on the rise again failed to reach the current nearest landmarks (the monthly Fibo Kijun 151.71 + 100% target level for the breakdown of the day cloud 152.05), in the zone of influence of these benchmarks, the pair has been working for the last few days. The fulfillment of daily targets (at the Chinkou breakdown and at the breakdown of the cloud) and approaching the resistance of the monthly level affected the movement, causing braking, which can form the prerequisites for the development of a corrective decline.

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At the moment, we observe a lateral movement, the center of gravity of which is the area of 150.80 (Tenkan N4 + Kijun N1 + level of 100% daily target for Chinkou + the first target for the breakdown of the day's cloud). Players to increase and to change the situation, you need not just get rid of the attraction levels (150.80) but also overcome resistance 151.71 - 152.05. While the pair is fixed under 150.80, the initial advantage is on the side of the bears, which at any moment can proceed to a correction decrease. The areas for reduction today will be 148.43 (Kijun N4 + historical levels) and 146.42 (cloud H4 + day Tenkan).

EUR / JPY

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Every day, the pair forms new highs, the uptrend continues its development. The closest upward guidance is the level of 100% of the target's performance for the breakdown of the weekly cloud (134.59). In the case of development of correction, support for older time frames is now at a considerable distance, the nearest is in the area of 132.09 - 131.83 (the level of the first target of the weekly target + day Tenkan).

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Players for promotion retain the basic support for the Ichimoku indicator, however, at low jumps the pair is in the correction zone. The transition of the short-term trend H4 (133.70) to the side of the bears and the anchorage under the cloud H1 (133.20) will allow us to consider new downward reference points - the goal for the breakdown of the H1 cloud, the support of the H4 cross (132,80 - 40), and the most fortified region - 132.09-131.83 (high-time levels).

Indicator parameters:

All time intervals 9 - 26 - 52

The color of the indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun - green dotted line,

Chinkou - 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.

Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2024
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