Hi everyone, hope you are all ok.

Let's get into it...

USDJPY has moved up impulsively within the long term trend (blue) and confirmed Wave (iii) for Wave C (red) continuing towards the upper long term trend.

The current count in the 60Min Chart is showing a Wave (i) and Wave (ii) completed and now Wave (iii) underway, with its internal Wave i and Wave ii completed and Wave iii (of Wave (iii)) also possibly completed, unless it gets further extended.

As soon as current Wave iii confirms to be completed, Wave iv correction should pull the price slightly lower, although the highest of Wave i at 107.62 should hold the price for the count to remain valid.

EURUSD today broke out of the long term wedge confirming Wave iii of Wave (c); See 4Hour Chart.

The 60Min Chart is showing Wave 1, 2 and 3 (blue) completed for Wave iii and Wave 4 now underway; The price should remain above 1.00991 (highest of Wave 1) for this count to remain valid.

Once Wave 4 is completed, we should see a further impulsive move to complete Wave iii.

GBPUSD has rallied today back into the trend (blue) just when it appeared to have started Wave (iii), triggering the alternate count for an extended Wave (ii).

This move is showing to be an expanded flat correction for current Wave (ii) but the price should remain below 1.2585 (the 0 retracement) for it not to trigger the alternate count of a yet higher degree Wave [ii] towards the upper trend (blue), as shown in the 4Hour and Daily Chart.

I have changed the count on the 60Min Chart to label the expanded flat connection running now through the last stages of Wave c (of Wave (ii)), or possibly completed (as I labelled with an alternate Wave (ii) count)

Once Wave ii correction is completed we should expect the impulsive moves to the downside to continue for Wave iii of Wave (iii) of Wave [iii]... so the move should be impulsive to the downside again...

All the best for everyone and please do not hesitate to contact me if you have any questions or comments.

Andres

info@tradingwaves.org