USD is looking bullish against the Japanese yen, despite a falling stock market, so we think that USDJPY can move sharply to the upside, once stocks will find a support. On USDJPY we see a triangle in progress; that’s a five wave pattern with wave (d) now underway to the 120.70/80 area, where resistance can be seen, as wave (e) is also needed before correction is finished.
USDJPY 1h Elliott Wave Analysis
USDCHF is showing a clear corrective move from September highs that can be done as the bounce from 0.9523 is looking impulsive. It can be wave (1), so now price is in wave (2) pullback that may find a support around 0.9620.
USDCHF 1h Elliott Wave Analysis
