E EURUSD And USDJPY Update - Elliott Wave Analysis

EURUSD bounced with five waves and hit 1.16 level, so it's time for a three-wave a-b-c pullback. That said, for now we remain bullish, while it's trading above 1.1427 invalidation level, so be aware of more upside after a correction.

EURUSD, 1h

USDJPY is making a nice turn lower, now even accelerating in the last 24 hours so we see prices in wave A)/1) still which may continue to 111.00 level. But sooner or later there will be a bounce into wave B)/2) corrective rally, ideally around 111.09 region of a former swing low.

USDJPY, 4h

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