EUR / JPY pair
Higher timeframes
Last week, the pair fails to break the current resistance (133.40) but stayed in the daytime cloud keeping in advance its progress towards the upper boundary of the cloud (133.40). Exit from the daytime cloud (Senkou Span A 132.07) can serve the development of a daily downward correction (the nearest support of Tenkan 131.53) and the formation of a rebound from monthly resistance.
H4 - H1
The goal of H4 has been worked out. It was strengthened by a monthly Tenkan (132.54) but it is not yet possible to overcome this resistance. Among the support levels, the most important is still the area of 132.07 (the lower boundary of the day cloud + the final boundaries of the cross H4 + cloud H1). To help support in the area of 132, it is now ready to advance, as well as, the H4 cloud. The consolidation below will significantly affect the alignment of forces, form a downward target of H1 and open prospects for a decrease (the next benchmarks are 131.53 - 130.89).
