The USD/JPY is moving higher within a wave 5 (orange) of wave C (brown). A break above the top of the channel (red) could see price move towards the Fibonacci targets of wave C (brown).
The USD/JPY broke above the resistance trend l
...The EUR/USD broke above the resistance trend line (dotted red) which is a continuation of the wave 2 (brown) retracement. A break above the 100% level at 1.13 invalidates both waves 2 (brown/green) but bearish breakout below the bottom at 1
...Hello trader,
Please find here below this week's wave analysis on the EUR/USD, GBP/USD and USD/JPY daily, weekly and monthly charts. More education, analytics, articles, and webinars can be found daily on Admiral Markets. http://www.admiralmarkets.com/
The EUR/USD
...The EUR/USD is probably building a break, retracement, and continuation, which is why waves 1 and 2 (brown) are indicated on the chart. Price will need to break below the bottom at 1.11 before a potential wave 3 becomes likely.
The
...The USD/JPY failed yesterday to break the top resistance (red). Price is now building a potential pullback within wave 4 (orange) which could find support (green) at the previous bottom and tops. The retracement is starting to resemble a bull flag
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