GBP / JPY
So without updating the nearest extremum (151.57), the players raised the initiative to rivals. Bears, having overcome the key support of the lower half, have now approached the most important levels of the older time intervals (149.24-15 month and daytime Fibo Kijun). Today, we close the week. The bearish character of the weekly candle and the consolidation below the supports will allow us to again consider the prospects of a corrective decline to the levels of the weekly cross and the daytime cloud.
After overcoming 150.57-45, the bears struck a cloud of H1. As a result of the breakdown, a downward target was formed. This goal proved to be enhanced support for the H4 cloud and the levels of older time intervals (149.24-15). In the current situation, the goal of H1 is worked out, now it can act as a support, therefore braking is possible. Overcoming the cloud of H4 (149.15 - 148.87) will form the next downside target and will open new prospects of decline.
EUR / JPY
Players on the rise again did not reach the level of 100% of the weekly goal only a few points. Yesterday, the initiative was handed over to the opponent, who once again sharply and actively withdrew from 100% of the level of performance of the target (134.59). The closest reference point for continuing the decline is now a day cloud, strengthened by a week-long Tenkan (131,94).
The support for the indicator Ichimoku now belongs to players for a fall. At the moment, bears are close to overcoming the H4 cloud and forming a new downside target. On the way of fulfilling the goal, an intermediate level of support will be 131.94 (a week-long Tenkan). Resistance today should be noted at 133.08 and 133.52.
Indicator parameters:
All time intervals 9 - 26 - 52
The color of the indicator lines:
Tenkan (short-term trend) - red,
Kijun (medium-term trend) - green,
Fibo Kijun - green dotted line,
Chinkou - 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.
