EUR/USD trapped in range; USD/JPY ready to rock –

EURUSD is a real mess on the intraday chart, so the pair must be trapped in a big correction. Based on the low volume and approaching the Easter holidays we suspect that the pair will stay trapped in  range.

Therefore, the current rise from the 1.0700 region is probably going to be in three waves, so any upside swing can be limited at 1.0850 or at 1.0950 if the pair rises.

EURUSD 1h Elliott Wave Analysis

USDJPY was not very clear on the OHLC chart so sometimes I will look at the line chart to check if we have any clearer patterns. Well, what I see is a possible five waves up from the low, so bullish waves can be on the cards, but we may have to wait for the NFP tomorrow. The March 26th low is the invalidation level.

USDJPY 1h Elliott Wave Analysis

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