EURUSD Still appears corrective

EURUSD appears to have only completed an A Wave and should find support at the decending trendline just below current prices.

USDJPY Breakout

The USDJPY appears to be breaking out of a multimonth bottoming period which should see the Yen depreciate signifantly in the next several weeks and months. This will leave the US dollar as the only safe haven further accelerating the dollar's ascent.

Update on EURUSD Long

With the EURUSD recent breakthrough of trendline resistance, there is very little in the way of technical resistance until around 1.3800 (last week's high). However, I do not expect prices to remain at an elevated level for long.

EURUSD Suprise Bounce

The current EURUSD wave count allows for the possibility of a jump up to 1.3900. I would wait for slightly lower levels to initiate a long positions from near the end of Wave B in order to reduce risk. This should create a head and shoulders pattern with 3 and 5.