25.10.201216:52 Forex Analysis & Reviews: GBP/JPY Ichimoku Indicator - Technical Analysis for October 25, 2012

Long-term review

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Daily
During yesterday’s trading session the pair closed higher the level of weekly cloud. Today it renewed the high level and now it is 128.77. The Golden Cross has been built and the indicator is supporting an uptrend again. Now the key issue is to consolidate on the reached high and close the week above the weekly cloud.

Н4
Amid the pair managed to preserve the Golden Cross, it could break and has almost worked out the triangle and reached the Median Line of Andrew’s Pitchfork. Having seen such a rapid move a consolidation could be expected.

Н1
The uptrend is observed on the time frame; all the targets are met and the lines of indicator are support Tenkan (128.70) and Kijun (128.20). Now it has reached one of the lines of Andrew’s Pitchfork and the boarder of the uptrend channel is coming. It may enable some kind of halt.

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

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