24.09.201213:40 Forex Analysis & Reviews: EUR/JPY Ichimoku Indicator - Technical Analysis for September 24, 2012

Long-term review

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Week Day
We have not witnessed the break of the weekly Kidjun. In the medium and short-term the downward trend continues its move. The weekly Kidjun (100.66) and weekly Tenkan (99.38) are the support levels; the untrodden Kidjun (102.62) is still showing resistance.

As it was expected, on the daily frame, after the break and fixation under the day short-term trend, the correction was extended and went down to the daily Kidjun. The broken Tankan acts as resistance now. The lines of Golden Cross are in horizontal position and have not supported the possible bulls’ activity yet.

Н4
It appeared that the support of cloud and short-term trend was not enough; the pair went to the cloud and came down to its lower level. Dead Cross is active, the break of the H4 cloud may be seen; but in order to meet the target the daily Kidjun should be passedн.

Н1
H1 is influenced by Dead Cross. The bears continue to be completely supported by Ichimoku. All the targets are met and we can proceed to H4. In order to notice in time the changing situation, H1 is used.

Legend:
Ichimoku parameters – Hosoda standard 9.26.52.
Short-term trend line – Tenkan – red
Medium-term trend line – Kidjun – green
Long-term trend line – Senoku Span B – blue
Senoku Span A – pink, Chinoku – grey
Fibo Kidjun lines – green dotted line

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