29.12.201714:54 Forex Analysis & Reviews: Daily review of GBP / JPY and EUR / JPY as of 29.12.17. Ichimoku Indicator

Long-term review

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GBP / JPY pair

The festive mood of everyday life slowed down the development of the situation in trade. The week, the month and the year will end today, so it is better to evaluate the prospects and benefits after the holidays. Support levels today are located at 150.90 (daytime Tenkan + daytime Fibo Kijun) and 150.16 (day-time Kijun + week-old Tenkan). The closest upward guideline is the maximum boundary at 153.38.

The pair continues to remain under the key resistance of 151.90 (goal H1 + historical level), used as a support while the attraction crosses Ichimoku H4 and H1, as well as cloudiness H1 (151,60). For today, the nearest support should be noted at 151.30 (target H1 + upper bound of the cloud H4), 150.90-70 (daytime levels + lower boundary of the cloud H4).

EUR / JPY pair

There is a continuous interaction with 134.59 (the level of 100% of the weekly goal). The situation yesterday did not undergo any significant changes. There are no hints from players to rise of leaving the consolidation zone and recovering an upward trend. The next upward direction is the upper limit of the monthly cloud (135.74), but testing is expected next week, next month, or next year.

Players on the rise do not give up trying to stay and gain a foothold above 134.59, as long as they succeed. Yet, pushing the level and continue the climb does not work. The weakness of bulls can return the market at 134.59, while the existing balance of forces will change and new downward benchmarks will appear. The closest support today is 134.07 (Senkou Span A N4) and 133.50-60 (day Tenkan + Senkou Span B N4).

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.

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