FX.co ★ The daily review of GBP / JPY and EUR / JPY on 26.12.17. Ichimoku Indicator

GBP / JPY pair

The pair closed last week without much optimism for the players to rise, however, certain preferences are now still on the side of bulls, and not bears. To restore the uptrend, players need to update the maximum boundary (153.38). Today, the nearest support can be noted at 150.90 - 70 (daytime Fibo Kijun + Tenkan) and 150.16 (day-time Kijun + week-old Tenkan).

The pair continues to consolidate within the resistance of the target to the breakdown of the H1 cloud (151.89) and support for the H4 cloud (151.38). Breakdown of resistance will increase bullish sentiment and will form the next upside target of a breakdown on the H4 cloud, whereas the execution of which will allow testing the maximum extremum (153.38). The zone found at 150.90 - 70 and level 150.16 can be included as support for today.

EUR / JPY pair

The pair tested the 100% level of the weekly target at 134.59 and updated the maximum extremum of consolidation at 134.51 but could not close the previous week above these lines. Currently, the players to rise need confirmation of intentions and the development of the situation. In this case, the next upward direction will be the upper limit of the monthly cloud (135.74). The return to the consolidation zone will return hope to the bears. Support in the current situation can be noted at 133.47 (daylight Tenkan) and 133.02 (weekday Tenkan + daytime Kijun).

The pair is in the zone of attraction at the target breakdown of the H4 cloud, which was reinforced by the level of the earlier time frames (134.59). Overcoming these resistances will open the way for the rise to the next upside target of 135.74. Today, supports zones are located at 133.70 - 50 and 132.80 - 133.00. Descent to the support and consolidation under these levels will require a new assessment of the situation, as the existing balance of power will be significantly violated.

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.