The daily target turned into a reliable support and resulted for the pair to remain in the zone of interest and pressured area of the 149.93 - 150.83 - 152.05 levels. The breakdown of the lower border at 149.93 was strengthened by the daily Tenkan (149.72) and will open new opportunities for corrective declines.
After reaching the 149.93 support area, there is a barrier which fits into the framework of bearish influence. The breakdown of the supports will open new opportunities for reduction. In this case, the immediate reference point will be the lower boundary of the cloud H4, which is currently combined with the support of the upper half at 147.70-148.40. If rising players were able to accurately gain a foothold above 151.27 (Kijun N4 + Senkou Span B N1) and 152.05 (level of 100% daily target), then the balance of the power risk/reward ratio will change. After that, it will be possible to expect a maximum test at 152.83 to restore the uptrend.
EUR / JPY
The euro-yen pair descended into the area of several supports (daytime Tenkan 132.51 + week target level 132.09 + daytime Fibo Kijun 132.09), then took a pause. Since the correction was deep enough, the levels of interest were able to hold back the situation for quite some time. The main task for strengthening the bearish sentiment is to liquidate the daily cross and overcome the support of the weekly short-term trend (130.98).
The scope of the bears' influence is still located in the H4 cloud and currently limited to area 133.08 (Kijun N4 + Senkou Span B N1). The breakdown of the H4 cloud and supports (131.82 Senkou Span B N4 + 132.09 high-time levels) will form a new downside target, opening a way through the support 131.46 (daily Kijun) and 130.98 (week-old Tenkan).
Indicator parameters:
all time intervals 9 - 26 - 52
Color of indicator lines:
Tenkan (short-term trend) - red,
Kijun (medium-term trend) - green,
Fibo Kijun - green dotted line,
Chinkou 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.
Get Bonus No Deposite in your Trading Account now and add this currency pair to your forex portfolio, enjoy your trading with us!
No comments:
Post a Comment