GBP/USD
Analysis:
The short-term trend of the British pound since the end of July is set by the still incomplete upward wave. The last section started on November 22 and reached the boundaries of a potential large-scale reversal section.
Forecast:
In the coming days, a change in the course of the intraday trend is very likely. Today, the upward mood of the movement is expected to continue. Yesterday's price rise has a reversal potential. In the first half of the day, a short-term decline to settlement support is not excluded. Volatility is likely to increase by the end of the day.
Potential reversal zones
Resistance:
- 1.3250/1.3280
Support:
- 1.3170/1.2300
Recommendations:
Selling the British pound today is risky. For intraday supporters, a bullish mood of trades is recommended. It is necessary to take into account the limitations of the likely price growth and a high chance of a counter-rollback.
USD/JPY
Analysis:
The direction of the Japanese yen in the major pair is set by a bullish trend. The unfinished section on the main course started on November 1. The price reached the lower limit of the wide reversal zone of a large TF. From it, the middle part (B) is formed and is approaching the end.
Forecast:
In the coming days, it is expected to complete the current in the last days of the flat mood of movement, a turn and the beginning of a rise in the course. The probability of breaking the current support and reducing the price of the pair to the borders of the next support zone remains. In this case, the change in rate will move to the next day.
Potential reversal zones
Resistance:
- 109.20/109.50
Support:
- 108.60/108.30
- 107.90/107.60
Recommendations:
Short-term trading on the yen market today can be unprofitable. It is recommended to monitor the signals for the completion of the decline and after confirming with the signals of your vehicles it enters into long positions on this pair.
Explanations: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure for determining the expected movement.
Attention: The wave algorithm does not take into account the duration of the tool movements in time!
