GBP / JPY
The pair continue to remain in the bearish zone of the expanding formation, but despite some advantage, testing the supports 149.24 - 148.73 yesterday resulted in the fall of players by the long lower shadow only. Successful entry into the daylight cloud did not occur again. The role of resistance, which is responsible for the short-term advantage, remains today for the day Tenkan (150.22).
Zones of support and interest are initially positioned at 149.24-41 and 148.73-82 and prevent players to move significantly lower to change the situation and continue the decline. The current task of the bears is to implement the correction to support the weekly Tenkan (147.70). The most important resistance for today remains focus in the area of 150.22-27 (daytime Tenkan + Senkou Span B N4). Strengthening above can change the balance of power in favor of rising players and create new prospects for them.
EUR / JPY
The pair remains in the daytime cloud under the resistance of 132.24-26 (daytime Tenkan + week-old Tenkan + upper boundary of the cloud). With this, the lower boundary of the day cloud (130.98) remains the main reference point for the decline. Fixing above the supports will return several times to test the center of the trend (132.95-day Kijun), which has developed recently.
On lower timeframes, it is clearly visible that the attraction zone formed by the levels of lower and higher timeframes (131.81 - 132.4) has recently been of primary importance. At the same time, the bearish mark for the continued decline is in the 130.98 area (the lower boundary of the daytime cloud). For the bulls, after fixing above 132.24, everything continues to exist against the resistance of the cloud H4 which is supported by the day cross led by Kijun (132.95).
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.
* The presented market analysis is informative and does not constitute a guide to the transaction.
