Currency pair USD/JPY
The USD/JPY completed a wave 4 (blue) and is confirming a wave 5 (blue) pattern with its bearish break below the support trend lines (dotted blue). A bearish continuation towards the 105 round level now seems likely.
The USD/JPY could be building bearish wave 3 (green) pattern.
Currency pair EUR/USD
The EUR/USD bounced at the larger support zone around 1.22 which is indicated by the green lines. Price is now challenging the resistance trend lines. A bullish break could start a new uptrend whereas a bearish break below support makes a wave 4 (pink) less likely.
The EUR/USD could be building 5 bullish waves (blue) if price manages to break above the resistance line (red).
Currency pair GBP/USD
The GBP/USD is testing the support at the 61.8% Fibonacci level. This Fib is a new bounce or break spot. A bearish break invalidates the wave 4 (green) pattern.
The GBP/USD bearish momentum yesterday is most likely a wave 3 (blue), unless price breaks above the bottom of the wave 1 (red line). A lower low could create divergence and complete 5 waves (blue).
 and is confirming a wave 5 (blue) pattern with its bearish break below the support trend lines (dotted blue). A bearish continuation towards the 105 round level now seems likely.){kind=link}