Admiral Markets - Analytics

    Admiral Markets

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    USD/JPY Approaches Decision Zone for Potential Breakout

    EUR/USD

    4 hour

    The EUR/USD remains very corrective and stays within the boundaries of a contracting wedge, which has resistance (red) and support (green) trend lines nearby.

    1 hour

    A bullish break would confirm the current wave count with a 4-5 (purple). Whereas a bearish break below the green support trend line would invalidate it.

    GBP/USD

    4 hour

    The angle of the GBP/USD resistance line (orange) is shallower than the support line (blue), which indicates a rising wedge chart pattern.

    1 hour

    The GBP/USD broke to higher levels on Friday as part of a wave 5 (magenta) of wave 3 (green). It is now most likely retracing as part of a wave 4 (green).

    USD/JPY

    4 hour

    The USD/JPY is approaching a resistance line (red), which could be a bounce or break spot.

    1 hour

    The USD/JPY is in a contracting triangle with support and resistance nearby.


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