USDJPY is nicely breaking above the 111.07 level, showing early evidences of a completed triangle correction in wave 4 of a higher degree, and that wave 5) is in progress. In such case be aware of more gains, ideally in impulsive (five-wave) fashion, targeting 111.4/111.50 area, where triangle measurement projects end of a final leg. However, if price breaks above this area, then 111.8 zone would be the second projection target for a turning point.
That said, a later drop in three legs, and below the 110.65 level would confirm that the pair is turning.
EURAUD is trading nicely higher as expected and there’s room for more upside towards 1.61 area or higher within a five-wave cycle. So, we remain bullish while it’s above 1.5880 invalidation area.