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EURUSD and USDJPY Intraday - Elliott Wave Analysis

EURUSD is turning nicely down for the last few hours, possibly with first small impulse through the channel support line which is a first evidence for a short-term weakness in minimum three waves. However, that's still not enough for confirmed top of a red wave C); we need overlap with 1.1232 level first. In that case we will look straight to the downside.

EURUSD 1h Elliott Wave Analysis

EURUSD 1-Hour Elliott Wave Analysis Chart

USDJPY doesn't show us any signs of a completed correction yet, but price definitely approaches to some interesting region where bulls come into play. We are looking at 119.80-120.00 area from where pair could bounce this week in impulsive fashion.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

 


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