We see risk-on mode in full action this morning, with DAX breaking out of a triangle which is positive for xxx/JPY pairs. In the mean time USD remains strong.
DAX is seen in a fifth wave now which has a room for 12750, as we think that higher degree red wave 5) can be in progress. We see market in bullish mode as long as price is above 12550.
German DAX, 1H
CADJPY is also making a nice leg up from 90.00 area where pair show evidences of a completed corrective wave four, so there is a chance that market is in wave five already headed above 91.60. But be aware of a pullback down for wave ii) which may seek support near 90.40-90.70.
CADJPY, 1H
