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GBP / JPY
The GBP/JPY pair remains uncertain on the reports about the following development of events. The activity continues to develop within the risk zone between the resistance level at 149.24 (monthly Fibo Kijun) and support region at 148.16 (daytime Tenkan) - 147.75 (historical level). As a result, the expected outcome that was mentioned and considered earlier remained the same.
Currently, lower timeframes do not have a significant impact on the development of the situation, since the major role is in the higher timeframes of support and resistance. Reaching the ranges 149.24 and 148.16-147.75 enable to manage some changes in the current situation. Overcoming these levels can change the course of events and mark new benchmarks. At the lower half today, you can opt for 148.57 (cross H4 + Senkou Span B N4 + Kijun N1).
EUR / JPY
Players decided to take advantage of the unfortunate situation of their rivals, as they failed to overcome the support and continue to decline. As a result, the driver's seat is owned by the players for a breakthrough, which happened late in the evening. Further, the confirmation of the result is already needed. At the moment, the EUR/JPY pair tested again the levels of the daytime cross (Kijun 132.51 + Tenkan 132.64).
If players are currently moving upwards due to the support of higher timeframes that strengthen the cloud H4, it is possible to exit from the consolidation zone and continue the uptrend. Hence, the first goal will be an upward target to break down the cloud H4 (133.81-134.05), while the bulls are expecting for the maximum extremum at the 134.42 level. The support above could possibly restore the upward trend of the higher timeframes.
The breakdown of support levels at 132.06-09 may trigger for another decline, the benchmark continues to be in the weekly Tenkan (131.13).
Indicator parameters:
all time intervals 9 - 26 - 52
The color of 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.
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