Breakout Targets for the EURUSD and USDJPY 2015.03.31

EUR/USD

4 hour

The EUR/USD is building a complex and corrective chart formation with limited space due to the many layers of support and resistance.

1 hour

It seems the most likely that price could be breaking towards the Fibonacci targets of the Wave X (magenta), which in turn could be a bouncing spot.

GBP/USD

4 hour

The GBP/USD is in a bearish channel but its angle is shallow, which in turn indicates indecisiveness.

1 hour

For the moment the corrective price action is confirming the usual price behavior of a wave X (green) but this is vulnerable to change depending whether price is able to break below the channel.

USD/JPY

4 hour

The USD/JPY bullish breakout could run intro struggle when it reaches the resistance trend lines (orange) and Fibonacci targets of wave X (green).

1 hour

The USD/JPY is approaching a bounce or break spot.