EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, the EUR/USD pair is forming a new ascending impulse. After reaching the retracement of 76.0%, the price started moving towards the high at 1.1961. If the price breaks it, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2053 and 1.2112 respectively. The support level is at 1.1717.
At the H1 chart, we can see the divergence, after which the EUR/UISD pair was corrected by 50.0%. right now, the price is forming a short-term ascending impulse towards 1.1901. After breaking it, the instrument may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1933 and 1.1955 respectively.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is about to reach the current high at 113.75. After breaking this level, the price may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 114.40 and 114.80 respectively. The support level is at 111.95.
At the H1 chart, the price is starting a new correction to the downside. The targets of the correction are the retracements of 38.2% and 50.0% at 113.13 and 112.97 respectively. The closest target for a possible ascending impulse after that is the current local high at 113.64.
RoboForex Analytical Department