USD/JPY Breaks Resistance of Consolidation Zone 2015.11.09

EUR/USD

4 hour

The EUR/USD is in a neat downtrend channel marked by the orange and blue trend lines. Divergence is present (purple) but one more wave 4 (brown) bullish correction and wave 5 bearish impulse is expected.

1 hour

The EUR/USD broke below the support trend line (dotted green) and continued with its downtrend. The Fibonacci levels mark the resistance of wave 4 and the support trend line (green) the boundary of the potential wave 5 breakout.

GBP/USD

4 hour

The Cable bearish impulse of wave's 3 (pink/blue) continues to push price lower and price has potential space to the 200% and 261.8% Fibonacci targets of pink.

1 hour

The GBP/USD is making a retracement at the moment which is most likely a corrective wave 4 (green). Typically waves 4 either are shallow flags or triangles with retracements that do not exceed the 50% Fibonacci level of wave 3 and mostly turn at the 23.6% and 38.2% Fib.

USD/JPY

4 hour

The USD/JPY broke above the long-term resistance of the sideways zone (dotted brown) in an impulsive manner which seems to be best explained at the moment as a wave A (blue).

1 hour

The USD/JPY broke above the uptrend channel (dotted green) with a clear bullish impulse which is probably wave 3 (orange). A wave 4 and wave 5 could take place before wave A (blue) is completed.