The daily review of EUR/JPY on May 16, 2018. Ichimoku Indicator

Source: Forex Analysis

EUR/JPY

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Higher timeframes

Reliable confirmation of rebound players on the decline yesterday was not received. The pair continues to remain in the zone of influence and attraction of several levels at the same time (daily Senkou Span A 130.82 + weekly Senkou Span A 130.65), while retaining the daytime short-term advantage (Tenkan 130.27) on the side of the players to rise.Players on the rise in this situation need access to the bullish zone with respect to the weekly cloud and return to the daily cloud. For competitors it is important to secure fastening in the weekly cloud (130.65) and the restoration of the downtrend (128.92).

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H4-H1

Resistance to the bearish H4 cloud continues to restrain the development of bullish plans. If the players on the decline today will be able to regain the daily short-term trend (130.27) and go beyond the cloud H4 (130), we can expect an increase in bearish sentiment. The next objective in this case will be testing the minimum extremum (128,92). The ability of players to increase in the current situation to retain the advantages and in the future to overcome 130.65-85 and 131.19-33 will strengthen their positions and open new upward horizons.

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