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21.11.2017 12:05 PM
Daily review of GBP / JPY and EUR / JPY on November 21, 2017. Ichimoku Indicator

GBP / JPY

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The succeeding test of the upper boundary of the day cloud (Senkou Span A 147.82) failed the bears. This time, the opponents successfully turned the attempt of support interaction into a long lower shadow, as well as to close the last day with a daily short-term advantage (daylight Tenkan 148.79). As a result, the chances of returning to the side of the bulls during the day's mid-term (Kijun 149.76 + Fibo Kijun 150.26) and weekly short-term (Tenkan 149.58) has increased.

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Overcoming the daytime Tenkan (148.79) allowed the pair to form an upward target on the lower halves for the breakdown of the H1 cloud. Reaching the target is possible in order to lead the bulls towards the resistance of the week-long Tenkan and the daily Kijun (149.76). While an upward target will be formed for the breakdown of the H4 cloud, the testing of which will allow players to upgrade the final boundary of the daytime dead cross (Fibo Kijun 150.26). At this point, the most important is the cloudiness of lower junks which was strengthened by the support levels and attraction (149.24 - 148.80 - 148.50-40), consolidation below may again inspire bears to test the upper boundary of the daytime cloud.

EUR / JPY

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The new fixation in the daytime cloud again led to the formation of a long lower shadow. This time the shadow is so great that testing the lower boundary of the daytime cloud (130.98) appears to be impossible in the near future. Instead of support levels, resistance levels today are more actual - 132.51 (day Tenkan + Senkou Span A) - 132.83 (daily Kijun + week Tenkan) - 133.23 (daytime Fibo Kijun).

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Another decline was not successful. Players on the rise managed to go into the bottom-up correct and change the balance of power in the lower timeframes. As a result, the situation did not undergo fundamental changes. Resistance currently retains its location and continues to unite the levels of higher and lower time intervals - 132.31 - 132.51 - 132.83 - 133.23.

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.

* The presented market analysis is informative and does not constitute a guide to the transaction.

Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2024
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