12.12.201703:13 Forex Analysis & Reviews: The daily review of GBP / JPY and EUR / JPY on 11/12/17. Ichimoku Indicator

GBP / JPY

The week closed without any bullish optimism. Considering that the increasing players failed to maintain the height after updating the highs, then chances of resumption and growth of bearish sentiment will increase this week. The major and the most important support zone still consolidate the weekly Tenkan (150.16), the daily Kijun (150.16) and the weekly Fibo Kijun (149.24). It should be noted that the daytime Tenkan sharply advanced today, and together with the daily Fibo Kijun currently forms the first and the nearest support level at 151.01.

Towards the close last week, the pair updated the maximum boundary on the beginning of the correction but failed to close the week above the resistance. As a result, the resistance data (152.83-92) retained their strength and significance. Intermediate resistance for today can be seen at 152.50 (Tenkan N4 + Kijun N1). The lower support zone is currently located at 151.91-55 (Fibo Kijun N4 + Kijun N4 + N1 cloud), then the support of the H4 cloud, supported by the higher levels (151.01 - 15016), will be of key importance.

EUR / JPY

In the recent days, on the side of the rising players shows initiative, but the pair continues to remain in the consolidation zone, and the center of attraction is the day cross and the weekly Tenkan (132.83). Talking about the benefits of players to increase in this situation can only be based on the fact that the pair is currently above the center of attraction and consolidation.

On the lower timeframes, the superiority of forces and support of the Ichimoku indicator belong to players on increase. At the moment, braking and a downward correction have been observed which is the result of working off the breakdown target of the H1 cloud. The support for today should be noted at 133.50 (Tenkan H4 + Kijun N1) - 133.11 (Kijun H4 + day Tenkan + cloud H1) - 132.83 (higher levels + the lower boundary of the cloud H4). Upward benchmarks for the pair continue to be the levels of the higher time intervals of 134.59 (100% of the weekly target) and 135.74 (the upper limit of the monthly cloud).

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.

The 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.