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Forex Analysis:USD Seems Strong – Looking At GBPUSD & USDJPY

With five waves down from 1.5670 and three waves up to 1.5593 we see bearish cable which could fall and retest lows from last week at 1.5465. We expect to see this level as long as market trades beneath 1.5670 invalidation figure.
GBPUSD 1h Elliott Wave Analysis

gbpusd elliott wave


USDJPY bounced very nicely from our 123.00 highlighted region where pair might accomplished a corrective set-back. An overlap with 123.71 and break above the upper channel resistance line will be another confirmation for a bullish turn.
USDJPY 1h Elliott Wave Analysis

usdjpy elliott wave

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