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Ichimoku Indicator

19.02.201810:51 Forex Analysis & Reviews: Daily review of GBP / JPY and EUR / JPY pairs as of February 19. Ichimoku Indicator

GBP / JPY pair

After a good phase of decline, we have observed a breakout and consolidation, which eliminated the day's golden cross and allowed the pair to go beyond the day's cloud. Players on the pause took a break, but they still managed to reach out and tested the support of the week-long Kijun (147.95) in the previous week. Thanks to the strengthened support zone (weekly Kijun 147.95 + monthly Tenkan 147.62), consolidation over the levels is likely to continue in the present time. Moreover, it is possible to develop an upward correction for the retest of the past levels. Resistance in this situation should be noted at the lines of 150.30 (weekly Fibo Kijun + daytime Senkou Span B) - 151 (monthly Kijun + day Tenkan) - 152.26 (weekly Tenkan + daytime Kijun).

Uncertainty is confirmed by the levels of the H4 cross that have entered into the horizontal and the twisting of the pair around the H1 cloud. For players in the decline, the support region below is still relevant at 147.60-90. On the other side, in case of victory of the opposing traders, the resistance of the H4 cloud is of primary importance, reinforcing by the levels of the more senior timeframes (150.30 - 151 - 152.26) in the present time.

EUR / JPY

The currency pair managed to close the week under the golden cross. Kijun (133.44) continues to work on changing the cross whereas, today, it joined forces with resistance in the area of the daytime cross (Tenkan 133.71 + Kijun 134.55) and clouds. Also, thanks to the Kijun movement for the bears, the road to the target levels for the breakdown of the day's cloud is now open, which is currently reinforced by the monthly Tenkan (129.95).

The confrontation and struggle continue. At the moment, a certain advantage is maintained on the players in the decline, despite being in the correction zone. The main goal for the players on the downgrade is to update the minimum extremum (131.58) and continue the decline in the high-tier benchmarks (130.70-00). Players on the rise can change the existing balance of power, for this, they need to eliminate the H4 cross and exit into the bullish zone with respect to the H1 cloud. The resistance will be concentrated in the zone of 132,50-70. Furthermore, the resistance will be rendered by the H4 cloud, which has now strengthened by the levels of the senior timeframes (133.45 - 134.55).

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,

trend lines - purple.

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Evangelos Poulakis,
Analytical expert of InstaSpot
© 2007-2025

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