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Fibonacci Retracements Analysis 25.03.2020 (GBPUSD, EURJPY)

25 march 2020 - Fx4News

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, GBPUSD is trying to fix below the low at 1.1958. At the same time, the current slight growth may be considered as a test of the broken low from below and a rising correction. After finishing the pullback, the pair may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1366 and 1.0996 respectively. the resistance is 61.8% fibo at 1.2552.

GBPUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the convergence made the pair reverse and correct upwards to reach 23.6% fibo. The next upside targets may be 38.2% and 50.0% fibo at 1.2095 and 1.2305 respectively. the support is the low at 1.1409.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the daily chart, after testing the low at 115.86 and rebounding from it, EURJPY may start a new long-term rising impulse. Right now, the pair is trying to break the resistance at 38.2% fibo (120.19). If the pair succeeds, it may grow to reach the fractal high at 122.87. If this level is broken as well, the instrument may start a new long-term growth with the first target at 38.2% fibo (124.13).

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the pair is re-approaching 38.2% fibo at 120.19. In the future, the instrument is going to break this level. It’s only a matter of time.

EURJPY_4H
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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