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  4. USD/JPY 88.6% Fib Bounce & EUR/USD Bullish Correction

USD/JPY 88.6% Fib Bounce & EUR/USD Bullish Correction

February 27, 2017 08:50

The USD/JPY could bounce strongly at the 88.6% Fibonacci support level and revert back into the uptrend. Chris discusses the reward to risk ratio and also the wave structure which shows 5 bullish waves and 3 bearish corrective waves. The EUR/USD could expand it bullish correction unless price breaks below 1.05. The GBP/USD completed 5 bearish waves and is expected to continue with the downtrend after a bullish retracement.

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