FX.co ★ Daily review of GBP / JPY and EUR / JPY as of August 29, 2017. Ichimoku Indicator

GBP/JPY

The pair continues to interact with the daily Tenkan (140.67). Reliable consolidation above the level will allow us to consider the development of a daily upward correction. The nearest strengthened area of resistances are the levels of 141,83 - 142 - 142,15 (weekly Kijun + monthly Tenkan + day Fibo Kijun). The next guide will be 143.02-20 (day cloud + Kijun).

The daily short-term trend went down today to support the lower halves, ceasing to strengthen the resistance of the H4 cloud. As a result, the support zone has strengthened and expanded - 140.67 (Tenkan H4 + day Tenkan) - 140.36 (cloud N1 + Kijun N4 + weekly Fibo Kijun) - 139.84 (high-time level + historical support of junior time frames). To maintain the existing balance of power players to increase, it is desirable to keep their location above the data supports. To gain new advantages and prospects, it is necessary to overcome the resistance of the H4 cloud.

EUR / JPY

Players on the increase retain their positions. The most important support now is the daytime cross zone (Tenkan 129.26 + Kijun 129.46), strengthened by a week-long Tenkan (129.47). Preservation of the location will allow us to consider testing the maximum extremum and restoring the uptrend. The nearest upward target is the target for the breakdown of the weekly cloud (132.09-134.59).

The pair fulfilled the target at the breakdown of the H4 cloud (130.82). Overcoming the goal opens the way to the benchmarks of the older periods - 131.39 (the maximum extremum) and 132.09 (the first reference point of the weekly goal for the breakdown of the cloud). Among the supporters of the lower half, today it is necessary to note the area of 129.70-50 (Kijun H4 + cloud H1 + daytime levels) and 128.97 (Senkou Span B N4). The reinforcement below will change the balance of power and will require a new assessment of the situation.

Indicator parameters:

All time intervals 9 - 26 - 52

The color of the indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun - green dotted line,

Chinkou - gray,

Clouds: Senkou Span B (SSB, long-term Trend) - blue,

Senkou Span A (SSA) - pink.

The color of the additional lines:

Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.