I noted that in USD/JPY that it saw a low at 105.07, that was 11 points below daily (cyan) (a)/(b). However, as far as I can see, we haven’t seen the (brown) Wave iii… I’d like to think that we can see that drop, pullback and drop but the final low is going to be quite difficult to establish in terms of targets…
Both EUR/USD and GBP/USD, while there could be a minor new high, over the day we should be heading lower over the day and into next week. As long as 0.9798 breaks higher in USD/CHF, then that will begin to see further gains. However, I really couldn’t make much sense of the rally. Best take care. The alternative will be an expanded flat back…
With EUR/USD and USD/JPY both likely to see losses, we should see some decent losses…
And what of the old cobbler dahn under, it has seen a pullback. It hasn’t broken above the 0.6821 high just yet, but it seems to have the potential. The alternative is a break below 0.6735…