EUR/USD and USD/JPY Fibo Analysis: 25.09.2018
EUR/USD
On H4, the EUR/USD broke out the latest high, and the uptrend went to the post correctional extension range between 138.2%-161.8% Fibo, or 1.1814-1.1863. This range includes the retracement level of 50.0% (1.1857). The market is then likely to start reverting after reaching its uptrend targets. The support is meanwhile at 1.1525.
On H1, the EUR/USD is forming a divergence, which means the price may pull back to 38.2% (1.1705) and 50.0% (1.1671). In case the price hits the resistance at 1.1815, this would mean the uptrend may continue.
USD/JPY
On H4, the USD/JPY is continuing to form an uptrend, while the price is approaching the major high at 133.17. Once this level gets broken out, the price is likely to go up to reach the post-correctional extension of 138.2-161.8% Fibo, or $114.47 to $115.28. The current move is supported by 111.07.
On H1, the USDJPY is uptrending and diverging, which means a pullback may occur after reaching the uptrend target. The next levels may lie at 23.6%, or 112.69, 38.2%, or 112.39, and 50.0%, or 112.14.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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