Daily review of GBP / JPY pair as of 05/30/18. Ichimoku Indicator

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GBP / JPY pair

If we talk about prospects and further bearish plans, the main task now is the breakdown of the weekly cloud (Senkou Span B 144.21), with the aim of forming a new downward reference point, and also the execution of the decline to the final boundary of the monthly gold cross (Fibo Kijun 139.72). At the same time, it should be noted that the current significant targets have been sufficiently worked out (the target for the breakdown of the daytime cloud is 143.08 - 144.16 + week Senkou Span B 144.21 + monthly Kijun 144.34). So players can now take a pause to go downward. The accumulation of levels (144.16-21-34) can serve as a center of attraction. Players on the fall continue the decline that is desirable to maintain these levels, as the formation of rebound from the levels may delay or completely cancel the implementation of the bearish plans.

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,

Chikou 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