Good day traders!
GBP/JPY found some support in the last 24 hours and is moving up now into channel resistance line where wave 4 may face limited gains. We expect a new drop lower into wave 5 of one.
EUR/USD retested resistance area of a fourth wave at 1.1690 after NFP report, but as usually, first reaction into important data is wrong, so we are not surprised to see current leg down, which is quite sharp and is testing the channel support line. Break below that line is expected, which will make a room for a fifth wave drop down to 1.1550.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.