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09.02.2018 11:30 AM
Daily review of GBP / JPY and EUR / JPY as of 09.02.18. Ichimoku Indicator

GBP/JPY

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Yesterday, the pair carried out a full-fledged retest of the day's cross (Kijun 153.37 + Tenkan 153.88), and then went down to the support of the day cloud, strengthened by the monthly Kijun (151.07). Today, we close the week, the longer the lower shadow of the weekly candle will be, the more chances that the supporters will be able to delay the development of events for a long time. Now, the role of the main zone of resistance still belongs to the daytime cross (153.37-88), strengthened by the weekly Tenkan (152.99).

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The players on the fall were able to reach the level of 151.07, while working out the goal for the breakdown of the cloud H4 on the first target (151). Now, in the event of the bearish sentiments remaining, the main task of the players for a downgrade will be to overcome the supported zone of support. The strength of the supports at the moment can delay the development of the situation, provoke consolidation, return the process of an upward correction. Today, the resistance are located at 152.41 - 152.98 - 153.37 - 153.88 - 154.51. Overcoming the supports is not an easy task, because at these borders, the goal was combined to break the H4 cloud, the day cloud and the high-tier levels. The breakout will open new bearish prospects, the nearest will be the levels of 147.90-60 (the monthly Tenkan + weekly Kijun), and also form a new downside target.

EUR / JPY

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Yesterday, the players on the slide upgraded the minimum and tried to enter the bear zone against the day's cloud. Today, we close the week. The most important for players to downgrade now is to maintain the support of the weekly short-term trend (134.78) on its side, as well as the formation at closing of the minimal lower shadow of the weekly candle. For bulls, all aspirations are associated with a return of 134.78 - 135.21 - 135.74. The strengthening above these levels can again significantly change the balance of power.

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Yesterday, with a decrease in players on the decline, the downward target for the breakdown of the H4 cloud (132.91) worked out quite accurately. At the moment, we are again seeing an upward correction. Attraction now has a cross H1 and Tenkan H4 (133,85), these levels have an increase from the senior halves (133.86-70). Reliable consolidation above will create the prerequisites for the development of corrective recovery, the benchmarks of which are located at 134.78 - 135.21 - 135.74.

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.

Evangelos Poulakis,
Analytical expert of InstaForex
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