Admiral Markets - Analytics

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USDJPY Uses Broken Resistance Level at 120.80 for 3rd Bounce Up


4 hour EURUSD: it is possible that the wave 3 (green) has been completed when considering the bullish reaction at 1.05.


60 min EURUSD: the small range with its resistance (orange) and support (green) trend lines could indicate whether price retraces to a higher Fibonacci level of wave 4 (green) or whether price manages to break lower to the Fibonacci targets.

GBPUSD


4 hour GBPUSD: the wave count is now showing impulsive counts although price might struggle at the bigger support level which is a weekly bottom (green).


60 min GBPUSD: the Cable is trending down in a neat channel (blue and orange).

USDJPY


4 hour USDJPY: the USDJPY managed to bounce a 3rd time at the confluence of broken resistance (dotted red) and support (green trend line).


60 min USDJPY: A break above the next resistance level (orange) could offer the potential for price to move up towards the Fibonacci targets. 



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