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 closest target is the retracement of 38.2% at 1.1512.
At the H1 chart, the EUR/USD pair is starting a short-term correction to the upside. The targets of this correction are the retracements of 38.2%, 50.0%, and 61.8% at 1.1674, 1.1706, and 1.1735 respectively.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, after the divergence, the USD/JPY pair has started a new correction to the downside. The targets of this mid-term correction may be the retracement of 23.6%, 38.2%, and 50.0% at 112.76, 111.72, and 110.89 respectively. The resistance level is close to the high at 114.46.
At the H1 chart, the pair is also being corrected downwards. The closest target of this movement is the retracement of 61.8% at 112.72. After this, the price may reverse and start a new ascending correction with the targets at the retracements of 23.6%, 38.2%, and 50.0% at 113.11, 113.37, and 113.57 respectively.
RoboForex Analytical Department