FX.co ★ Daily review of GBP / JPY and EUR / JPY as of 08/09/17. Ichimoku Indicator

GBP / JPY

Amid the slow down, the pair continued its decline and now trading in the area of the daytime cloud, strengthened by a week-long Tenkan (143.20).

The pair crossed the support 144.00 (the former maximum) and 143.20 (high-time levels). The benchmark for the decline is 141.83. As of this writing, we observed the retesting of lower timeframes at 143.20 that passed recently. The significant zone of resistance for now is the area 143.20-44 (Tenkan N4 + Kijun N1 + high-time levels), then we can mark 144.00 (Fibo Kijun N4 + maximum) and 144.61 (Kijun N4 + obako N1 + day Tenkan ).

EUR / JPY

The 1-day Tenkan and the whole 1-day cross are left behind, the pair has declined, as the benchmarks which are now the levels of the upper half (the monthly Fibo Kijun 127.75 and the weekday Tenkan 126.90).

Players on the slide overcome the cloud of H4 and recently reached the target for the breakdown of the cloud. A secure support below the target and opens the way for a decrease to the benchmarks of the upper half. The slow down and corrective uplift, today's levels can be set at 129.30 (daytime Tenkan + Fibo Kijun H1) and 129.70 (day-time Kijun + Tenkan H4 + Kijun N1).

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

Chinkou 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.