Good day traders! Today we are going to take a better look at USDJPY and AUDUSD.
USDJPY is making a bullish case for itself, as we see price trading in an impulse. We see wave 5) as part of this bullish structure trading near completion; meaning once it fully unfolds a new three-wave move lower may come in play. That said, we also have Divergence seen on the pair, which inidcate a possible reversal.
Aussie is ticking lower after earlier retest of 0.8040 level. Pair did not break above blue wave a swing high yet, so we assume that corrective rally is still unfolding, but it may be an irregular if price of current wave b will breach below Sep 12 low.