USDJPY made a nice three-wave A-B-C pullback in wave 4), which represents a pause within uptrend with possible support around 111.04/110.9 area. That said, once price turns back above 111.57 region, that is when bulls are back in the game. A similar situation is with CADJPY, where we also see an a-b-c corrective decline in wave 4 with ideal support around 83.20 – 83.00 area that can act as a rebound back to the highs for wave 5. That being said, be aware of more upside while both pairs trade above invalidation levels.
USDJPY, 1h
CADJPY, 1h
