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 50.0% at 1.1607 and 1.1514 respectively. The local target of this uptrend is at 1.1900. The next targets may be the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2006 and 1.2065 respectively.
At the H1 chart, the situation is pretty the same.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart of the USD/JPY pair, the previous descending impulse is now being corrected and has already reached the retracement of 50.0%. In case the correction continues, the next targets will be the retracements of 61.8% and 76.0% at 110.05 and 110.36 respectively. In the long-term, one should expect the downtrend from longer timeframes to continue. The resistance level for such movement is the local low at 108.60; the target is the area between the retracements of 138.2% and 161.8% at 107.92 and 107.35 respectively.
At the H1 chart, the situation is similar, but shows more detailed structure.
Картина 1-часового графика USD/JPY подтверждает ситуацию старшего масштаба, но в более подробном ракурсе.
RoboForex Analytical Department