The EUR/USD broke below the support trend line and zone (dotted blue) yesterday when the European Central Bank (EBC) president Draghi was announcing the continuation of the Quantitative Easing program. The Euro reacted bearishly and fell against the USD, which invalidated a larger bullish correction and makes a continuation towards the 38.2% Fib of wave 4 vs 3 likely now.
EUR/USD is showing strong bearish momentum and is most likely in a wave 3 (blue) which could become extended if a triangle or bear flag pattern appears (purple lines).
The GBP/USD has not broken below the support trend line (blue) as yet but the strong bearish momentum makes a bearish breakout likely, which could be part of a wave 5 (green).
The GBP/USD bearish momentum is probably a wave 1 (orange) which could see a bounce and a retracement for a wave 2 (orange).
The USD/JPY has completed a wave 4 (blue) within the uptrend and broke above the resistance (red) trend line to challenge the 114.50-115 target zone.
The USD/JPY is approaching the Fibonacci targets of waves 5 (pink/blue).