? USD/JPY, GBP/JPY Corrective Patterns Could Soon End ?

2 min read

Dear Traders,

the USD/JPY is at a critical 50% Fibonacci level which could be a key bouncing spot for a long-term uptrend. The key factors are whether price will break above the downtrend channel and whether price will break above the ABC target at the 38.2% Fibonacci level. A larger bearish correction could price fall towards the 61.8% Fib.

The GBP/JPY could have completed a wave 4 retracement and price is breaking above local resistance. A new uptrend could be on its way although a larger resistance level of the triangle still remains a key zone.

See the video below for all of the details


Good trading,

Chris Svorcik

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