SPY & USD/JPY Intermarket Analysis

SPY and USD/JPY look like they're ready for a pullback after completing 5 waves higher from the lows. In SPY I currently have the rise from the lows labeled as an A wave which means I'm expecting a B wave lower. B waves tend to hold within a 23.6 and 38.2 retracement of the move higher, hence the box location on the chart. We'll monitor how it reacts to those levels and trade accordingly.

Charts: