Fibonacci Retracements Analysis 25.04.2018 (GBPUSD, EURJPY)

25.04.2018

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the divergence made GBPUSD reverse and start a new descending movement, which has already reached the retracement of 61.8%. The next downside targets may be the retracements of 76.0% at 1.3872 and the level of 1.3712.  The resistance level is at 1.4124.

GBPUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is falling towards 1.3872 and has already been corrected by 23.6%. After the convergence, the instrument may reverse and start a new correction towards the current resistance area.

GBPUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY has already reached the retracement of 50.0%. The next upside target may be the retracement of 61.8% at 134.24. At the same time, one can see the divergence being formed. The support level is at 132.21.

EURJPY1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the short-term divergence that is being formed may indicate a possible pullback to the downside to reach the retracements of 23.6%, 38.2%, and 50.0% at 132.42, 131.75, and 131.22 respectively.

EURJPY2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.