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FX.co ★ Daily review of GBP/JPY and EUR/JPY as of August 1, 2017 using Ichimoku Indicator

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Forex Analysis:::2017-08-02T00:52:17

Daily review of GBP/JPY and EUR/JPY as of August 1, 2017 using Ichimoku Indicator

GBP / JPY

Daily review of GBP/JPY and EUR/JPY as of August 1, 2017 using Ichimoku Indicator

The July candle was near the Doji candlestick pattern, and although the location is not indicative, its mood suggests market uncertainty.

After the downward movement of the cross (Tenkan Sen 145.26 + Kijun Sen 144.84), the main benchmarks for the continuous decline will be the weekly cross levels (Tenkan Sen 143.20 + Kijun Sen 141.83), by which the Support was reinforced by Tenkan Sen month).

Daily review of GBP/JPY and EUR/JPY as of August 1, 2017 using Ichimoku Indicator

The GBP / JPY maintained its location above the support region (145.26 + 144.84) and surge to the significant level of resistance of the lower half (145.80 Senkou Span B N4 + Senkou Span B N1).

EUR / JPY

Daily review of GBP/JPY and EUR/JPY as of August 1, 2017 using Ichimoku Indicator

Despite the long-term uncertainty and being in the correction zone, the players with an upright position to close the July candle with a bullish mood.

Daily review of GBP/JPY and EUR/JPY as of August 1, 2017 using Ichimoku Indicator

As noted earlier, the pair's position was above the H4 cloud and the day's Tenkan (129.68) retains massive strength on the side of the players with a higher position, who did not stop trying to test the maximum of the corrective movement in the former Period (130.76).

Indicator parameters:

All time intervals 9 - 26 - 52

The color of the indicator lines:

Tenkan Sen (short-term trend) - red

Kijun Sen (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.

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.

Analyst InstaForex
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