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24.11.2017 02:44 AM
Daily review of GBP / JPY and EUR / JPY on 23.11.17. Ichimoku Indicator

GBP / JPY

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Players on the slide slowly retreated and continued to struggle with the upper boundary. Today, the level of Senkou Span A is located at 148.54, while Tenkan moved down on the same day. In the case of consolidation above, the balance of power may shift to the opponent's side, but the key is the resistance zone. If the pair continues to work in the daytime cloud, the support for the weekly Fibo Kijun (147.41) and daytime Senkou Span B (146.06) will be the benchmarks for the decline.

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Bears continue to maintain and defend their advantages. The Ichimoku indicator on the lower timeframes adjusted to the full support of the players in the fall. The benchmarks for the continuation of the decline remained unchanged, as the minimum renewal descends to 147.42, further to 146.06.

The area of resistance is the H1 cloud and cross H4. This zone is strengthened by day levels (148.54 Tenkan + Senkou Span A). Furthermore, the task of the players to upgrade was still unchanged. The current priority is to overcome the H4 cloud which is not so wide and strong, and interaction with the resistance of the upper halves 149.24 - 149.58 - 149.76 - 150.26.

EUR / JPY

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The events continue to develop within the daily candle of Monday. The uncertainty is contained in the cloudiness of Ichimoku continues. Tenkan (132.51) and Senkou Span A (132.55). The first support is still located on the lower boundary of the day cloud (Senkou Span B 130.98).

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Even the pair is in the corrective zone, with respect to Monday's achievements, players on the decline, however, will continue its attempts to resume the decline in the nearest guide and support near the daily level (130.98). An important zone of resistance for the lower halves is the area of 131.85 - 132.06 (Kijun N4 + Fibo Kijun N4 + cloud H1). Further uptrend of the bulls will continue to rest in the 132.51 - 132.83 - 133.24 (cloud H4 + levels of the senior half-times).

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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