Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

The daily review of the GBP / JPY as of August 13, 2018. Ichimoku Indicator

August 14, 2018 Analytics

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GBP / JPY

To the bearish sentiment of last week, there was an added descending gap, formed at the opening of the market. At the moment, the players on the slide met the support of the monthly Kijun (140.69). Overcoming the level will open the way to important landmarks. The value will have the goal for the breakdown of the weekly cloud (137.59 – 135.48) and the monthly Fibo Kijun (136.94). All levels of resistance of the older time intervals are now far behind and today, they are unlikely to be relevant.

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Indicator Ichimoku in the current situation, all elements support the players to fall. The downward trend is now a priority. As a result of the fact that the pair met the support of the monthly level (140.69), the current braking may drag on or get development. In the case of the formation of an upward correction, the lower junior levels will be the first to enter the work. Today, the resistance can be noted at 140.85 (Tenkan H1) – 141.46 (Tenkan N4 + final borders of the cross N1) – 142.40 (Kijun N4 + cloud H1). The return of these levels to the side of the players on the increase will change the current balance of power, form new upward guidance points and will return relevance to the levels of resistance of the senior half.

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.

The material has been provided by InstaForex Company – www.instaforex.com

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