USD/JPY Approaches Bounce or Break Spot at Resistance Tops

3 min read

EUR/USD

4 hour

26-05-2015eu4
The EUR/USD has broken below the support trend line (blue) and is in a bearish zigzag (indicated by the purple ABC).

1 hour

26-05-2015eu1
The EUR/USD is moving lower in a downtrend channel as part of wave C (purple).

GBP/USD

4 hour

26-05-2015gu4
The GBP/USD broke below the support trend line (green) and could be completing a wave Y (blue) correction at the Fibonacci targets such as the 100% mark at 1.5329. The bigger picture indicates either a completion of wave B (black) or W (grey) at the previous top.

1 hour

26-05-2015gu1
The GBP/USD could be falling in bearish zigzag pattern (ABC green).

USD/JPY

4 hour

26-05-2015uj4
The USD/JPY has completed the contracting triangle (ABCDE magenta) and it is now in a bullish wave 3 (magenta).

1 hour

26-05-2015uj1
The USD/JPY is in a wave 5 (green) of wave 3 (magenta).

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