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Fibonacci Retracements Analysis 23.02.2022 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is still consolidating around 38.2% fibo and this consolidation range may later be followed by a new rising impulse. The mid-term upside targets may be 61.8…

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is still consolidating around 38.2% fibo and this consolidation range may later be followed by a new rising impulse. The mid-term upside targets may be 61.8% and 76.0% fibo at 1.3833 and 1.3987 respectively. The key support remains at the low at 1.3160.

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Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows that the pair has tested 61.8% fibo several times; right now, the asset is testing it again. In this case, the price is expected to continue trading upwards. The upside targets are 76.0% fibo and the high at 1.3655 and 1.3749 respectively. The local support is at 1.3358.

GBPUSD_H1

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

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As we can see in the H4 chart, EURJPY is completing the descending correction, which may be followed by a new wave to the upside to reach the high at 134.12. The support is the low at 127.38.

EURJPY_H4

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a more detailed structure of the current price movement. Divergence on MACD made the asset stop falling at 76.0% fibo and start a new growth, which has already reached 38.2% fibo at 130.80. After a slight pullback, the pair may resume growing to reach 50.0%, 61.8%, and 76.0% fibo at 131.26, 131.71, and 132.24 respectively, and then the high at 133.15. The local support is the low at 129.36.

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EURJPY_H1

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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