FX.co ★ Daily review of GBP / JPY and EUR / JPY as of 20.12.17. Ichimoku Indicator

GBP / JPY

In the opening of the week, the initiative was brought up by the players to rise. The market continues to maintain these sentiments and the resistance of the daily short-term trend (151.38) is being tested today. A reliable fastening above it would level out all the efforts of the bears and leave the potential of the last week candle without realization. The key support remains the level of 150.16 (day-time Kijun + week-old Tenkan).

Players on the rise overcame the most important milestones as it broke the dead cross of H4 and leaving the H1 cloud. As a result, a goal is formed in the breakdown of the H1 cloud, the execution and overcoming of this will allow the transfer of the target to the breakdown of the H4 cloud. The resistance of the H4 cloud was strengthened by the daytime Tenkan (151.38). Among the nearest supports today, the levels of 150.93 (Tenkan N4 + Kijun N1 + daily level) and 150.63 (Kijun N4 + cloud H1) should be noted by traders.

EUR / JPY pair

Players on the rise eliminated the premise of rivals, implying the possibility of the first to leave the zone of weekly consolidation. Once again, the center of attraction (day cross 132.76-96 + week-old Tenkan 132.83) restrained the situation from the development of the bearish decline option and the continuation of the weekly correction. At the moment, the players on the increase are optimistic, their immediate targets have not changed which is to update the maximum boundary (134.51), 100% work out the weekly goal (134.59) and the subsequent rise to the upper boundary of the monthly cloud (135.74).

Players on the rise attempt to overcome the attraction of the goal to the breakdown of the H1 cloud and move to reach the goal of breaking down the H4 cloud. Successfully reaching the goal on the 4-hour time frame combines several upward indicators from more senior times (134.51-59). For today, support levels at 133,60 (target H1) - 133,31 (cloud H4 + Tenkan H4 + Fibo Kijun N1) - 133.07 (Kijun H4 + cloud H1 + day Tenkan) - 132.83-77 (senior levels times) should be noted.

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.