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USD is showing some a picture on the FX board. We see going in different directions against EUR, AUD, and GBP. The most interesting pair today to track should be GBPUSD which made three legs of recovery from 1.6280 towards 1.6390 where the pair shows a first evidence of a completed correction. Sooner or later, the pair is expected to continue south, through 1.6280 and towards 1.6200. That’s either wave (iii) or wave (c) of a decline. We already shared the 4h strategy earlier to members.

GBPUSD Elliott Wave Analysis September 23 2014 technical view for forex trading
GBPUSD 1h Elliott Wave Analysis

USDJPY is finally making a deeper pullback now with wave c trading down, towards 108.00 where the pair could be looking for new support and could complete a retracement of wave iv). We would love to get involved in a bullish trend, but I am more focused on 4h chart, where I want a retracement into 106.80-107.50 area before I could look for some longs.
USDJPY 1h Elliott Wave Analysis

 

USDJPY Elliott Wave Analysis September 23 2014 technical view for forex trading