The USD is still moving sideways against the most of the majors as the USD Index sits above the 80.00/80.10 level.
A break down is needed for some acceleration against the USD, otherwise the FX market may stay sideways for few more trading days.
On the FX quotes USDJPY is showing some expected waves in this week, now moving down after a break out of a triangle and a fall from a resistance line. However, traders should not get excited too much regarding USDJPY weakness, as we see limited downside within wave C that is part of a wave D. Support is at 101.30, followed by 101.00, so we think that sooner or later the pair will find some support.
USDJPY 1h Elliott Wave Analysis
