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28.07.2017 11:08 AM
Daily review of GBP / JPY and EUR / JPY as of July 28, 2017. Ichimoku Indicator

GBP/JPY

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Interaction with the day Tenkan (145,65) continues, but the pair went down to the next support of the day cross - 145.15 (Fibo Kijun). Today, the bearish potential of the past week has not been used so far. The long-term consolidation within the daily short-term trend can contribute to strengthen the positions of players on the rise, wishing to complete the decline.

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To overcome the key zone of resistance of the lower half of 146.30-50, the players of the rise failed. The bears returned to themselves most of the advantages on junior time frames. In the case of crossing the cross H4 (Fibo Kijun 144.97), it is possible to fulfill the target at the breakdown of the H1 cloud and decrease to the support area of the daily Kijun (144.37). The return of the medium-term trend of H4 (145.26) and short-term H1 to the side of the bulls will affect the balance of forces and create conditions for the restoration of positions, as a result, it will be possible to expect another testing of the most important resistance zone of this site. Currently, it is located at 145.65- 146 (daytime Tenkan + Senkou Span B N4 + cloud H1).

EUR / JPY

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The pair continues to stay in the zone of influence of the monthly Fibo Kijun (129) and the day Tenkan (129.57), which combined their efforts, using these levels as support. As a result, the main conclusions and expectations about the development of the situation have not changed. The breakdown of the zone will shift the predominance of forces to the side of the bears, the presence of above the zone leaves the chances of restoring the trend for players to increase.

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The key values continue to play levels of 129.57 and 129.00. As mentioned before, the presence above 129.57 retains some superiority of forces on the players' side, raising the chances for them to restore the rising trend of the older time frames. Securing in the zone of attraction of 129.00-57 creates uncertainty, and in case of reliable breakdown of 129, expect that players on the slide will make a new attempt to continue the decline.

Indicator parameters:

All time intervals 9 - 26 - 52

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.

Color of the 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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