EURUSD
On H4, the EURUSD formed a correction uptrend that reached 76% Fibo. The next target is at the local resistance, 1.1420. After the uptrend is over, it will be followed by a downtrend that will be hunting for the low at 1.1176 and the post correctional extension range of 138.20% to 161.80%, or 1.1079-1.0996.
On H1, the EURUSD is diverging, which means the uptrend may be switched to a downtrend. The targets may lie at 23.60%, 38.20%, and 50% Fibo, or $1.1316, $1.1290, and $1.1267, respectively.
USDJPY
On H4, the pair is forming a downtrend after divergence. The targets lie at 23.60%, 38.20%, and 50% Fibo, or 110.33, 109.22, and 108.33, respectively. The high at 112.13 acts as a resistance.
On H1, the USDJPY is moving down, already having reached 61.80% Fibo. The next stop may be at 76%, or 111.03; then the support at 110.76 may get hit to send the price into the range of 138.20%-161.80%, or 110.34-110.05.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.