Daily Wave Analysis for 13 January 2015 2015.01.13

4 hour EURUSD:

Yesterday’s price action was choppy and the EURUSD wave count has been changed to show a wave 4 (green).

60 min EURUSD:

The mini double bottom could increase the likelihood of a bullish retracement back towards to the 38.2% Fibonacci, the previous wave 4 (purple) and the trend line (orange).

GBPUSD

4 hour GBPUSD:

The completion of a wave 4 (green) consolidation will most likely take price at the 23.6% or the 38.2% Fibonacci retracement level.

60 min GBPUSD:

The GBPUSD is making a consolidation and is correcting within the trend lines (purple).

USDJPY

4 hour USDJPY:

The USDJPY indeed keeps correcting lower as expected with the current wave count. The most likely targets are the 61.8 and 100% Fibonacci targets.

60 min USDJPY:

The USDJPY wave 5 (green) could become extended.