Daily Wave Analysis for 23 September 2014 2014.09.23

4 hour EURUSD:

Price is reaching the bottom of two down trend channels (blue and purple) plus a weekly support line (green), which could be difficult for price to break through.

60 min EURUSD:

Price seems to be building on a falling wedge chart pattern (purple lines).

GBPUSD

4 hour GBPUSD:

The 4 hour bottom (purple) could be a support level to keep an eye on. If price breaks below it, then it could indicate the end of wave 4 (magenta).

60 min GBPUSD:

A breakout (red arrows) below the support trend line (green) could potentially indicate the start of the bearish momentum.

USDJPY

4 hour USDJPY:

The USDJPY is having trouble with trend continuation for the moment (orange and green lines) at the 110 resistance level (psychological round number).

60 min USDJPY:

A breakout (green arrows) could occur above the resistance trend line (orange).