GBP / JPY
Players on the increase took advantage of the monthly Kijun (140.69) and currently forms an upward correction. The nearest support of this recovery for today is the daily short-term trend (143.43). In this situation, we can combine efforts to passed the minimum extremum level (143.17). As a result, the zones 143.20-40 can become a good reference point for retest and completion of the upward correction. The fastening above will require refinements and a new analysis, since the monthly Kijun may form a pullback, and the upward correction will receive weekly support.
At the lower halves, the pair are now at significant borders. The task of players to raise is currently in the breakdown of the H1 cloud and the elimination of the death cross H4 (Kijun 142.24). Achieving these conditions will significantly increase the advantages of bulls and formed the first upward target for the breakdown of the H1 cloud. In this case, the support for recovery will be focused in the area of 143.20-40 (the target of the H1 cloud + H4 cloud + levels of higher periods).
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.
