GBP/USD
Analysis:
The upward trend that began in March continues on the British pound market. The price is approaching the lower edge of the preliminary target zone. After an intermediate correction, a new section of the pulse develops on the chart.
forecast:
Today, the general upward course of movement is expected. in the European session, there is a possibility of a short-term decline or a sideways flat. By the end of the day, you can expect a resumption of price growth up to the calculated resistance.
Potential reversal zones
Resistance:
- 1.3640/1.3670
Support:
- 1.3500/1.3470
Recommendations:
Today, there are no conditions for selling the British pound. It is recommended to track signals for buying the pair at the end of any downward movements.
USD/JPY
Analysis:
The Japanese yen's major chart is dominated by a bearish trend for most of this year. Its last section counts down from November 9. The wave has entered the final phase and is approaching the upper limit of the potential reversal position of a large TF.
Forecast:
Today, the pair's market is expected to be generally bearish. Short-term price spikes, no further than the resistance zone, are not excluded.
Potential reversal zones
Resistance:
- 103.50/103.80
Support:
- 102.80/102.50
recommendations:
Buying yen today can be unprofitable. Trading on the pair's market today is recommended only in the direction of the dominant trend.
Explanation: 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, and the dotted one shows the expected movements.
Attention: The wave algorithm does not take into account the duration of the instrument's movements in time!
