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14.09.2017 05:36 AM
Daily review of GBP/JPY and EUR/JPY as of September 13, 2017. Ichimoku Indicator

GBP / JPY

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The optimism expressed last week supported the players to increase and overcome the next resistance 143.20-44 (daytime Senkou Span B + week Tenkan), as well as to close the last day outside the cloud Ichimoku week and day timeframe. Maintaining the achieved highs will allow the pair to form an upward target in the near future to break the clouds.

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The Ichimoku indicator is currently on the side of the players to raise. The pair rose to the resistance zone of weekly maximum extremes of 146.76 - 147.75 - 148.08 - 148.43. As a result, it is expected that the player's activity to increase, brake or pull back will drop. The nearest supports for today is at 145.30 (Tenkan N4 + final borders of the cross N1) and 144.44 (Fibo Kijun N4 + cloud N1 + week Senkou Span B) can be singled out today.

EUR / JPY

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The pair reached the resistance zone of the first target (132.09) for the week to breakdown the cloud. Overcoming the level will open the way towards the fulfillment of the target level at 134.59. In this situation, the support continues to remain at the levels of the daytime cross (Tenkan 130.68 + Kijun 129.78), strengthened by the week-long Tenkan (129.78).

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Increasing players enjoy the advantage and support of the Ichimoku indicator. They overcame the target at the breakdown of the H4 cloud and updated the maximum (131.71), and used these levels as support. In addition, the 131.35 (Tenkan H4 + Kijun H1) - 131 (Fibo Kijun N4 + H1 cloud) - 130.68 (Kijun H4 + day Tenkan) can be referred today as supports. As of this moment, the resistance is at 132.09 (the upper half level), the breakdown of the level opens new targets.

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,

Chinkou 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.

Evangelos Poulakis,
Analytical expert of InstaForex
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