FX.co ★ The daily review of EUR / JPY pair on 17.04.18. Ichimoku Indicator

EUR / JPY pair

Higher timeframes

The pair continues to remain in the daytime cloud and fight the resistance of the monthly Tenkan (132.54). The cloud of Ichimoku often provokes the development of uncertainty, which is confirmed by the last day's candles. Nevertheless, anchoring in the cloud above or below one of its borders forms the priority of the development of the movement to the opposite border. Thus, the main upward direction is now in the zone 132.22 - 133.41 (the area of the horizontal Senkou Span B). The most significant support remains the lower boundary of the daytime cloud (131.96), strengthened today by day Tenkan (131,99).

H4 - H1

Interaction with resistance levels (target H4 132.67 + monthly Tenkan 132.54) and the struggle for further prospects continues. Currently, the role of lower timeframes is to build support and to help maintain the advantage on the side of players to rise. Today, the main milestones can be noted at 132.51 (Tenkan N4 + cross N1 + high tier levels) and 132.32 (Senkou Span B N1 + Kijun N4). The reinforcement below the support data will change the balance of the lower timeframes and form new goals. It is likely that significant support levels of the higher timeframes (131.96) will require a new assessment of the situation.