Forex Analysis & Reviews: 02.02.2018 - Daily review of GBP / JPY...

02.02.2018 03:13 PM

Daily review of GBP / JPY and EUR / JPY pair as of 02.02.18. Ichimoku Indicator

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GBP / JPY pair

The downward correction is completed. The pair has updated the maximum extreme (156.06) and has restored the uptrend. Currently, players on the rise returned to testing the monthly resistance at Senkou Span B (156.32) and Fibo Kijun (157.27). The result of the conflict will create new prospects for the winner.

The goal for the breakdown of the H1 cloud passed. Today, the H1 target area of the support zone (155,44-83) combines with additional support levels (Tenkan H4 + H1 cloud + H1 cross). Therefore, it is the most important area of support for junior timeframes. For today, additional supports can be noted at 154.27 (Kijun H4 + cloud H4 + day Tenkan) and 153.37-01 (high-tier levels). The benchmarks for the players on the rise are the levels of the older time intervals 156.32 and 157.27. Currently, the target for the breakdown of the H4 cloud is from the lower half in the area of 157.27.

EUR / JPY pair

After a long period of uncertainty, players on the rise took revenge. Now, they are conquering new heights. The uptrend is currently in its active phase. The goal of the players to rise is the breakdown of the upper boundary of the monthly cloud (Senkou Span A 135.74), overcoming its attraction and forming a new upward target.

Players on the rise of the H1 cloud and used to support the continuation of the H1 cloud. As of now, the main upward trend is the goal for the breakdown of the H4 cloud, which is strengthened by the historical level. 138. Support for the shorter time-frames can be noted at 136.40-60, but the region of 135.74 remains to be the most significant region.

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,