USDJPY And German DAX

Grega Horvat

Good morning traders, and welcome to a new busy month which could be very interesting for the markets, that began with a new North Korea nuclear test that caused a gap lower on stocks.

Normally markets quickly recover after such events, so wondering if this time will be the same. Gaps as you know will normally be filled, so with that in mind, we think that upside on E-mini S&P500 is not done yet and that USDJPY can be in fact in final stages of a current wave c.

USDJPY Hourly Chart

USDJPY Hourly Chart

Dax is lower, about we talked already on Friday when we saw price in fifth wave, so current set-back is normal; ideally an A-B-C decline that will look for a base this week around 11990/12029 zone.

DAX Hourly Chart

DAX Hourly Chart

Source: www.ew-forecast.com

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