USDJPY
Looking at USDJPY, I prefer to wait on a drop back to 108.52 in three legs before any long term ideas can be considered. The break out of an upward channel will suggest that a correction has begun.
USDJPY, 1H
AUDUSD
Another very interesting pair for a long USD opportunity, can be against the AUD after some very sharp waves last week down from 0.7570, which we see it as an extended black wave 3. As such, all eyes will now be on a fourth wave pullback in three sub-waves back to a nice 0.7400 resistance, where we see the former wave four and 38.2% Fib retracement; perfect area for a new leg down.
AUDUSD, 1H
