Yesterday we have seen a sharp leg up on US stocks with E-mini S&P500, which lift prices to 2695 level and can be aiming for 2700 and above. This strong rally followed a completed Elliott wave flat pattern, that was located in corrective blue wave iv. That said, around the metioned 2700 region, price may slow donw and turn choppy for a temporary pullback.
S&P500, 1h
While stocks are up there is a chance that USDJPY will make a rally to higher levels as well, but still in corrective fashion. We are looking at an A-B-C in wave 2) that can reach 113.00 resistance from where I would expect a sell-off based on a clear bearish Elliott Wave pattern while price trades below 113.75.
USDJPY, 1h
At the same time we may see DAX turning south as well, as index can be in late stages of sub-wave c of Y. Resistance is now around 13330-13350 price region.
German dax, 1h
