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The daily review of EUR / JPY on 14.05.18. Ichimoku Indicator
May 15, 2018 3:21 amVideo
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EUR / JPY
Higher timeframes
Last week, the struggle against the support of the upper boundary of the day cloud enable the players gained the victory. They managed to form a retreat and close the week above the level. As a result, the main current task for players to increase is the development of the existing potential, the return to the daytime cloud and the weakening of the death crosses of Ichimoku on a daily and weekly basis. This would be done by transferring to the side of the day-time Tenkan (130.64), the weekly Tenkan (131.19) and day Kijun (131.33). Failure to implement these plans, as well as a return to support of the upper boundary of the weekly cloud (130.60), and will indicate the current weakness of players to increase and the opportunities for strengthening the bearish sentiment.
H4-H1
The day before players on the rise would stay in the sphere of influence of the key zone (130.34-58), as they managed to overcome it would allow them to enter the H4 cloud and continue its ascending trend. The most important upward benchmark now are the higher resistance levels 131.19-33 and the upper boundary of the cloud H4 (131.51-21). Breakdown of these resistances and holding the bullish zone relative to the H4 cloud will open new prospects and form an upward target. The most important areas of support in case of a decline today can be seen in the areas of 130.65-58 – 129.90 – 129.20.
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.
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company – www.instaforex.com
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