We see most of the USD pairs moving sideways while stocks seem to be in a new short-term correction. On the DAX we are tracking wave four which can be headed back to 12470 support zone before market may again turn up for Wave 5) towards 12700.
German DAX, 1 hour
Once current pullback is finished, that's when the British pound/Japanese yen (GBP/JPY) currency pair may also turn up for Wave 5. On the updated intraday chart, we are still tracking a fourth wave correction which may be irregular, so be aware of a retest of 150.10 area from where the market can bounce up into wave five.
GBP/JPY, 1 hour
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