USDCAD is up as expected, and it reached our 1.2620-1.2640 resistance area where a three wave bounce from the 1.2350 low can be looking for a top. Note that we are tracking wave B so a new leg down is expected to happen in this week, but we need an impulsive drop to 1.2448 to make sure that wave B is done.
USDCAD 1h Elliott Wave Analysis
USDJPY has continued nicely to the upside this week, but now we need to be aware of a potential slowdown while market is approaching 120 level. Note that the price has actually already achieved some Fibonacci resistance area for wave (d) so we would not be surprised by a bearish turn for a big wave (e). Please check 4h chart on EWC page for a bigger view.
USDJPY 1h Elliott Wave Analysis
