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26.01.2018 10:23 AM
The daily review of GBP / JPY and EUR / JPY on 26.01.18. Ichimoku Indicator

GBP / JPY

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Yesterday, the players on the increase marked a new high, but the initiative was on the side of the bears by the close of the day. As a result, the daylight candle marked the prerequisites for correction again. Today, we close the week. The development of corrective decline, the formation of a long upper shadow for weeks can serve as the beginning of the formation of rebound from the zone of resistance met (monthly Kijun 155.56 + Senkou Span B 156.32). The new revenge of the bulls will keep the possibilities for further active testing of the zone 155.56 - 156.32.

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In response to yesterday's testing of the zone of resistance of the older periods, we observe the response of the lower time intervals. On H1, during testing, another divergence was formed, which resulted in a decrease to the key supports - clouds N1 and Kijun H4. The breakdown of the cloud H1 and the cross H4 will change the balance of power and will open new opportunities for lowering (the goal for the breakdown of the cloud H1). The next downward direction will be the cloud H4, reinforced by the levels of the day cross (Tenkan 154.03 + Kijun 153.11). The position of the pair above the supports (154.70-60) retains the advantages on the players' side to increase.

EUR / JPY

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The confrontation in the area of the monthly Senkou Span A (135,74) continues. To change the situation, players need to leave the consolidation zone to upgrade and, having updated the maximum (136.56), securely gain a foothold higher. The players on a decline for further development of their moods need to leave the consolidation zone and overcome the day's cross (Kijun today is 134.79).

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At the moment, the support of the Ichimoku indicator is entirely on the players' side of the increase. The pair is in the bullish zone against the clouds, gold crosses are operating, and there is support for all trends, even short-term ones. Weaken the players' position on the increase by the fact that the pair remains in the zone of consolidation and lateral movement of the last few days. The previous tasks are going beyond consolidation, updating the maximum extremum (136.56) and consolidating higher. The most important and significant supports today include two zones 135.74-64 (upper-tier levels + cloud H1 + Kijun H1 + cross H4 + upper boundary of the cloud H4) and 134.79-69 (upper-time levels + the lower boundary of the cloud H4).

Parameters of the indicator:

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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