The EUR/USD broke the bullish trend channel (dark blue), which could indicate a larger correction back to the support trend line (green) via WXY (blue). A break below the support trend line (green) confirms the completion of wave 4 (blue) whereas a bounce at or above support (green) indicates that the wave 4 is not yet finished.
If price continues lower as part of wave C (green) it could move towards the Fibonacci targets of C vs A. A break above resistance (orange) could see price correct higher towards the Fibonacci levels of wave X (blue).
The USD/JPY has built a bullish correction which has reached the 61.8% Fibonacci level. The broken support could now also act as resistance. The current wave count is invalidated if price breaks above the 100% level.
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