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Good morning traders.

Stocks remain in bullish mode which keeps the Japanese in a bearish trend, while yjr USD is showing a mixed picture. The Pound is still very strong. On DAX we see a slow price move above 12470; it’s probably a corrective move in fourth wave; ideally a triangle that can lift the price back to the highs soon.

DAX, 1H

While Stocks are up we expect XXX/JPY pairs to move even higher. AS such, we are tracking GBPJPY which is in a strong uptrend this week, currently seen in wave five of 3 which could be looking for a top in the very near future; ideally next week around 149-150 zone.

GBPJPY, 1H