USD/JPY: 'High Wave' led to consolidation
It's likely that after a short break the pair is going to achieve the next support level at 111.90...
EUR/USD: resistance waiting for bulls
The price is still rising, so bulls faced resistance at 1.1249, which led to the current consolidation. Therefore, the pair is likely going to test the nearest support at 1.1204 - 1.1171 in the short term. If we see a pullback from this area, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1287 - 1.1307.
We've got a "Double Top" pattern, which has been confirmed. So, bears are likely going to reach the closest support at 1.1204 - 1.1196 in the coming hours. However, if a pullback from these levels happens, bulls will probably try to test another resistance at 1.1287.
Sergey Logachev
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