Daily Wave Analysis for 29 September 2014‏ 2014.09.29

4 hour EURUSD:

The EURUSD keeps pushing lower within a neat downtrend channel (blue lines).

60 min EURUSD:

Price is breaking to newer lows but has now reached a monthly support level(green). The bearish fall could be part of a wave 5 (purple) of a wave 3 (red).

GBPUSD

4 hour GBPUSD:

The Cable could be starting a new bearish impulsive wave 5 (magenta), which is consisting of a wave 123 (purple numbers).

60 min GBPUSD:

The GBPUSD could be extending the wave 3 (purple) with its own 5 wave structure (brown).
USDJPY

4 hour USDJPY:

The 110 price level (red) could be a resistance level which causes price to stall orretrace due to the fact that there are 2 targets, including a 423.6% of wave 3 (blue), and a round number.

60 min USDJPY:

Price needs to break above the resistance (orange) before a wave 3 (green) seems likely. The alternative is that wave 1 (green) is still part of the correction and wave 3 is wave 1. A breakout (green arrow) could occur when price goes through resistance (orange).