FX.co ★ Daily review of GBP / JPY and EUR / JPY pairs as of 05.12.17. Ichimoku Indicator

GBP / JPY pair

Yesterday, players on the rise updated further the maximum boundary at the level of 152.83, in order to leave the correction zone and restore the uptrend. it is necessary not only to update this level but also to gain a foothold higher. As a result of yesterday trading, the prospects for the recovery of the weekly trend are still disappointing. The bears return to support levels (daytime Fibo Kijun 150.63 - week Tenkan 149.92 + daily Kijun 149.92), a shorter descent under these levels can change the balance of power and create new downward benchmarks.

Players on the rise tested the benchmark and closed yesterday at the level of 152.83. However, there is not enough strength to clearly achieve the level. At the moment, the depth of decline can significantly affect the future plans and prospects of market players that makes the support level as the main focus for today instead of resistance. Among the intermediate supports, it should be noted that the 150.90 (Kijun H4) and 150.40 (goal H1 + Fibo Kijun N4). The priority will most likely achieve the levels of the upper halftime at 150.63 - 149.92 - 149.24.

EUR / JPY pair

By the nature of the day, candles, the players on the rise, while retaining their position above the daytime cloud and key supports (weekday Tenkan 132.83 + day cross). Still, there is no clear advantage, which is necessary to exit the zone of the daily correction and then move to the stability of the monthly cloud (Senkou Span A 135.74).

The benchmarks of the players for promotion remain the same (134.59 - 135.74), but at the moment, a breakout is anticipated. The support area 133.15 - 132.98 - 132.82, which has the most important significance for the players also retained its location today. The breakdown of the zone and consolidation below can mark the plans of the players to raise and form new benchmarks for the opponent.

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.