EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, the EUR/USD pair is still being corrected to the downside. The main targets of this correction may be the retracements of 38.2% and 50% at 1.1605 and 1.1513 respectively.
At the H1 chart, the situation is pretty the same. The pair was corrected to the upside by 61.6% and then started a new descending impulse.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart of the USD/JPY pair, the price has broken the local low and right now is still falling inside the downtrend with the targets in the post-correctional extension area between the retracements of 138.2% and 161.8% at 107.88 and 107.37 respectively.
More detailed structure is shown on the H1 chart. After breaking the local low at 108.59, the price may move into the post-correctional extension area between the retracement of 138.2% and 161.8% at 108.24 and 107.99 respectively.
RoboForex Analytical Department