19 Jan

Fibonacci Retracements Analysis 19.01.2022 (GBPUSD, EURJPY)

January 19, 2022

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after an attempt to test and break 76.0% fibo, GBPUSD has started a new decline, which may transform into a proper descending wave towards the low at 1.3160. The key resistance and the next upside target are the high at 1.3834.

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 the current correctional downtrend. By now, the descending wave has reached 23.6% fibo and may later continue towards 38.2%, 50.0%, and 61.8% fibo at 1.3524, 1.3455, and 1.3385 respectively. The local resistance is the high at 1.3749.

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, EURJPY is moving upwards after divergence on MACD. In this case, the asset may fall to break the low at 127.38 and then continue trading downwards to reach the long-term 61.8% fibo at 126.40.

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 is falling; it has already reached 50.0% fibo and may later continue towards 61.8% and 76.0% fibo at 129.00 and 128.39 respectively. The key resistance is the local high at 131.60.

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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