The USD did not move much yesterday, so for now we see no changes on EURUSD. The price could still make another high soon, to complete a five wave move within a fifth wave. That said, a reversal down from the new high could follow in the sessions ahead, especially if stocks continue higher.
EURUSD 1h Elliott Wave Analysis
EURJPY has been bullish in the last two months, same as EURUSD, but this could come to an end in the coming days or weeks, because we can count five waves up on the 4h chart of EURJPY. Besides, we also see a decreasing bullish momentum on the RSI, while the price can be forming a wedge pattern in the fifth wave. This refers to an ending diagonal in Elliot Wave Theory which can cause a bearish turning point, possibly from around 137. If we are correct, then EUR gains are limited.
EURJPY 4h Elliott Wave Analysis
