USD/JPY Bounces From Low

EUR/USD is looking bearish after wave C turned nicely down from equality level near 1.1130. We see price now heading down into a third leg of decline that can be reaching levels near 1.0970 today, but ideally, price will extend to 1.0900 with wave (iii).

EUR/USD 1h Elliott Wave Analysis

EUR/USD Hourly Chart

Seems like we have some interesting price actions on intraday charts in favor of the buck. I am tracking USD/JPY that made a minor three wave retracement to 123.30, which can be wave two, so strong move to the upside could then follow in sessions ahead. We expect rise of a wave three that can be targeting new highs for the month above 124.45. Invalidation level for now remains at 123.00.

USD/JPY 1h Elliott Wave Analysis

USD/JPY Hourly Chart

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