We believe that USDJPY accomplished a three wave decline in D) around 101.20 and that pair is now recovering in wave A, first leg of a three wave bounce in E) that may reach levels around 102.00/102.15 in days ahead.
USDJPY 1h Elliott Wave Analysis
On AUDUSD we have seen a sharp fall in overnight trading after worse than expected Trade Balance figures. Pair lost nearly 50 pips, a leg that was made in five waves so it appears like a change in trend which means more weakness should follow in sessions ahead. Short-term resistance for any A-B-C pullback comes in at 0.9475/0.9480.
AUDUSD 15min Elliott Wave Analysis
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