EURUSD

After a bullish correction lasting from yesterday afternoon, strong downward impulse pushed EURUSD in area of a very important support. We are seeing the struggle between supply and demand and if this level is defeated, we expect a continuation of declines.

Given the current situation overcome of the current support might open the way to declines even to area of the lower limit of the triangle formation seen on the weekly chart.

GBPUSD

Since yesterday afternoon we see consolidation, which is the correction of time after the ongoing rally on Monday. From a technical point of view, it is more likely to expect upside breakout although in the near future we expect a re-test of 1.2259 support.

USDJPY

Today’s dynamic falls defeated a very important support area. Given the Monday growing trend line overcome, in the near future we can expect the declines to continue at least in the region of the level of 102.85.

A potential target for short positions after defeating the previously mentioned 102.85 support could lead even to the level 99.88 and the prior bearish trend line on the daily chart.