Fibonacci Retracements Analysis 05.01.2022 (GBPUSD, EURJPY)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has reached 50.0% fibo after convergence on MACD and may boost its growth towards 61.8% fibo at 1.3577. After that, the pair may start a new decline towards the key support at 1.3160. The key resistance is the local high at 1.3834.

The H1 chart shows that the price is correcting to the downside after local divergence on MACD; the targets are 23.6%, 38.2%, 50.0%, and 61.8% fibo at 1.3482, 1.3423, 1.3375, and 1.3327 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY is correcting upwards after convergence on MACD; it has already reached 61.8% fibo and may later continue towards 76.0% fibo at 132.02. After this pullback is over, the asset may resume falling to break the low at 127.38 and then reach the long-term 61.8% fibo at 126.40. The resistance is the high at 133.48.

The H1 chart shows that the pair may resume falling after divergence on MACD; the downside targets are 23.6%, 38.2%, 50.0%, and 61.8% fibo at 130.50, 129.90, 129.42, and 128.93 respectively. The resistance is the high at 131.46.

Article By RoboForex.com

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