EURUSD and USDJPY: Fibo Analysis, 19/3/2019

EURUSD

On H4, the EURUSD formed a correction uptrend that reached 76% Fibo. The next target is at the local resistance, 1.1420. After the uptrend is over, it will be followed by a downtrend that will be hunting for the low at 1.1176 and the post correctional extension range of 138.20% to 161.80%, or 1.1079-1.0996.

On H1, the EURUSD is diverging, which means the uptrend may be switched to a downtrend. The targets may lie at 23.60%, 38.20%, and 50% Fibo, or $1.1316, $1.1290, and $1.1267, respectively.

USDJPY

On H4, the pair is forming a downtrend after divergence. The targets lie at 23.60%, 38.20%, and 50% Fibo, or 110.33, 109.22, and 108.33, respectively. The high at 112.13 acts as a resistance.

On H1, the USDJPY is moving down, already having reached 61.80% Fibo. The next stop may be at 76%, or 111.03; then the support at 110.76 may get hit to send the price into the range of 138.20%-161.80%, or 110.34-110.05.