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24.01.2018 10:48 AM
Daily review of GBP / JPY and EUR / JPY as of 24.01.18. Ichimoku Indicator

GBP / JPY

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The pair reached the zone of influence of monthly resistance, Kijun (155.56) and Senkou Span B (156.32). On the younger timeframes, we see a rollback from the resistances encountered, but the monthly levels suggest a response within the monthly candles or at least a few weeks, so it's too early to talk about the result of the interaction. The closest supports are the levels of the day's cross (Tenkan 152.95 + Kijun 152.56).

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The combination of support for Kijun H4 and the H1 cloud continues to deter the players from stepping down and retaining advantages on the opponent's side. Today, at the turn of 154.23, the support data has already for the third time defended the interests of bulls for the last few days. The breakdown of the supports will change the preponderance of forces in favor of the bears and form a downward target for the breakdown of the H1 cloud. The nearest support today can be noted at 153.65 (cloud H4 + historical level) and 152.95-60 (cloud H4 + day cross).

EUR / JPY

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The pair continues to remain in the consolidation zone formed in the sphere of influence of the monthly Senkou Span A (135.74). Since 135.74 is the center of gravity here, descending under the level increases the advantages of bears, and fastening above this level indicates the formation of additional chances for bulls to first leave the consolidation zone. At the moment, the balance of power is shifted to the players' side for a fall.

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The lateral movement persists, so the main option for the development of events remain the same, as are the conditions for their implementation. The daytime Tenkan (135.06) today climbed to the cloud H4. The daytime short-term trend and the bullish cloud (Senkou Span A 134.68) will now be the important milestones in the way of bears, a reliable overcoming can open new prospects. For players to increase after leaving the lateral movement, it is important not only to update, but also to overcome the resistance of the maximum extremum (136.56).

Indicator parameters:

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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