FX.co ★ Daily review of GBP / JPY and EUR / JPY as of 04.08.17. Ichimoku Indicator

GBP / JPY

Yesterday, the bears have actively intervened in bullish plans.

There has been quite a sharp change in sentiment that adjusted the moods and prospects of the market. With a decrease in the number of bears, they have reached the target breakdown of the H4 cloud in order to strengthen their positions. It is important to overcome the target and secure below the support level of 144.00. The key area When this zone increases and secured at the levels of 145.87-56, this will create uncertainty, which keeps the chances of the players on the increase to achieve the completion of the decline.

EUR / JPY

Players after the rising trend could not keep positions and confirm the recovery of the uptrend. Closing the current week with a long top shadow can trigger a new stage of downward correction to develop. The closest support is Ichimoku, today it is Tenkan (130.31) - Kijun (129.41).

The pair descended to the most important support levels of the lower half (130.46 Kijun N4 + Senkou Span B N1), this area has increased from the daily short-term trend (Tenkan 130.31). Settling below this will fundamentally change the dominance in the market to be in favor of the bears. A further decline could provide support from the H4 cloud (129.90) and target the breakdown of the H1 cloud and the daily Kijun (129,41).

Indicator parameters:

All time intervals 9 - 26 - 52

Color of the 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.