FX.co ★ The daily review of the currency pair EUR / JPY for May 3, 2018. Ichimoku Indicator

EUR / JPY

Senior timeframes

The currency pair euro / yen was supported by the weekly Tenkan (131.15). The result in this situation may be the inhibition and ascent to the pierced levels of the day's cross (Kijun 131.70 + Tenkan 132.33) for retest. The reliable overcoming of support 131.15 will open the way to the lower boundary of the daytime cloud (130.51) and the upper boundary of the cloud of the week (130.34).

H4-H1

The bears continued the decline and fulfilled the target at the breakdown of the H4 cloud on the first target (131.31). As the nearest downward direction, the level of 100% of target H4 remains (131.07) and support for the weekly Tenkan (131.15), in the zone of influence of which the pair is now located. The strength of the supported supports can contribute to the development of an upward correction. In this case, the most important values will be the resistance levels concentrated in the region of 131.70 (cross H4 + cloud H1 + day Kijun) and 132.20-33 (cloud H4 + high-time levels).