Hi everyone, hope you are all ok.

Let's get into it...

The 4Hour Chart is showing USDJPY Wave (iv) correction completed and now Wave (v) is moving impulsivelly towards the upper trend (blue) again.

Once Wave (v) completes Wave [i] we should expect the price to drop through Wave [ii] correction.

The 60Min Chart is showing Wave (iv) correction has completed and an impulsive move cross through the high of Wave (iii); This could be an initial Wave i of Wave (v) towards the upper trend.

As per current count, I am expecting a corrective Wave ii next and Wave iii to carry the price higher upon its completion.

EURUSD broke out of the long term wedge is continuing through the start of Wave v now; See 4Hour Chart.

The 60Min Chart is showing Wave iv comp[leted with an expanded flat correction and a possible Wave 1 of Wave v currently underway.

The alternate count, marked in the charts, points out for a Wave [ii] already finished at %38 retracement of Wave [i], which would mean that the current move is the Wave (ii) in form of a Zig Zag correction (best shown in the 4Hour Chart).

Although this Alternate count is becoming less likely as the price raises and will be cancelled out if the price raises above the 1.1100 (0 retracement of the alternate count Wave (i)).

GBPUSD has almost reached the upper trend line to complete Wave [ii] on the 4Hour Chart.

The rally is quite strong, which suggest that there should be enough momentum to reach to the trendline towards the %62 retracement level, although we need to bear in mind that, as the current count stands, this is still a correction (Wave [ii]).

(The Alternate count that I have left marked is for an extended Wave [ii] correction reaching the %76 retracement level).

The 60Min chart is showing 5 clear waves completed so, unless this 5th wave gets extended, this could be the end of Wave [ii] and, hence the price could start to drop impulsively to start Wave [iii].

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

Andres

info@tradingwaves.org