Daily Wave Analysis for 25 February 2015 2015.02.25

4 hour EURUSD: the main support and resistance lines of the consolidation are between +/- 1.1275 and 1.1450. The invalidation level for the wave 4 is the bottom of wave 1 (red line).

60 min EURUSD: price failed to break to lower grounds yesterday and ultimately bounced off the support trend line (green) several times.

GBPUSD

4 hour GBPUSD: the break out above the long-term resistance (dotted orange) has introduced a choppy 4 hour uptrend so far.

60 min GBPUSD: price is building an ascending wedge chart pattern (blue and red trend lines).

USDJPY

4 hour USDJPY: the wave count currently indicates that the wave X (purple) has been completed but there is a chance that price could still post a new high.

60 min USDJPY: price broke the resistance (dotted red) for a move up towards the wave X (purple) targets.