The USD/JPY broke below the support line (dotted blue), which invalidated the previous wave count and indicates a potential downtrend. Price seems to have built an ABC (green) in a larger wave 4 (blue) and could be in an impulsive breakout.
The USD/JPY could be building a wave 3 (green) momentum.
The EUR/USD is retesting the resistance trend line (red) and a bullish break could start a potential wave 3 (blue) of 3 (purple). A break below the support zone (green) could indicate a larger trend change.
The EUR/USD seems to have completed 5 bullish waves (green) which could complete a wave 1 (blue). An ABC correction (green) could now take place within wave 2 (blue). A break above the trend line at 138.2% Fib increases the chance of a bullish breakout.
The GBP/USD seems to have completed a wave 3 (green) and could now be building a wave 4 (green) retracement.
The GBP/USD could use the Fibonacci levels of wave 4 (green) as support.
Chris SvorcikP.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.