EURUSD, "Euro vs US Dollar"
On D1, the quotations are demonstrating another attempt to test 50.0% (1.1493) Fibo in a long-term bearish phase. Also note that a local divergence is forming on the MACD, which might hint on a short-term pullback. When it is over, another wave of decline will head for not only 50.0% (1.1493) but also 61.8% (1.1290).
On H4, one can see potential goals of the ascending correction after a local convergence on the MACD. Now the quotations have risen to 23.6%, and later they can reach 38.2% (1.1664) and 50.0% (1.1711) Fibo. A breakaway of the low at 1.1513 will signal about the continuation of the downtrend.
USDJPY, "US Dollar vs Japanese Yen"
On D1, there is a downward movement beginning after a divergence. Potential goals of the medium-term decline are 23.6% (111.85), 38.2% (110.07), and 50.0% (108.64) Fibo. The main resistance is at the high of 114.70.
On H4, there is a correctional decline to the last wave of growth. By now, the quotations have come over 23.6% and are aiming at 38.2% (112.56) Fibo. After coming over this level, the decline might continue to 50.0% (111.90) and 61.8% (111.25). The key medium-term support is 109.11.
