26.09.201211:19 Forex Analysis & Reviews: EUR/JPY Ichimoku Indicator- Technical Analysis for September 26, 2012

Long-term review

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Day
We continued to fall and fixed near Shiff and the upward trend lines. Golden Cross is broken through which means that in medium-term it is time for bears. To rebuild the Cross, indicator needs some time and now we can expect retesting of the broken lines. Support is placed at weekly Tenkan (99.38).

H4
In general, the situation did not change: we still can observe a scope of bearish lines. Targets and guidelines remained the same.

H1
Yesterday, the bulls tried to change the situation and dragged the pair to H1 cloudiness. Nevertheless, Golden Cross did not unfold and the bears were downbeat. Today we renewed the maximum and fixed below daily Fibonacci Kidjun (100.15). Now we have to see how this level will be tested. It is a very strong level for bulls where they will try to change the scenario. For bears the target is weekly Tenkan (99.38).
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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