12 Jan

Fibonacci Retracements Analysis 12.01.2022 (GBPUSD, EURJPY)

January 12, 2022

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has reached 61.8% fibo after convergence on MACD and may boost its growth towards 76.0% fibo at 1.3672. After that, the pair may start a new correction to the downside before attacking the high at 1.3824. The key support is at 1.3160.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a more detailed structure of divergence on MACD and potential correctional targets – 23.6%, 38.2%, 50.0%, and 61.8% fibo at 1.3554, 1.3482, 1.3422, and 1.3364 respectively.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, having completed a slight correction, EURJPY is moving upwards; it may soon update the local high and continue growing to reach 76.0% fibo at 132.02. After testing the high, the asset may start a new correction to the downside before attacking the high at 133.48. The support remains at the low at 127.38.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows that the pair may is growing towards the local high at 131.60. If the asset fails to break it, the price may start a new short-term decline to reach 38.2%, 50.0%, and 61.8% fibo at 129.99, 129.49, and 128.99 respectively.

EURJPY_H1

Article By RoboForex.com

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


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