The EURJPY had a significant bearish momentum yesterday, broke below the trend line support as you can see on my daily chart below. This fact postpone the bullish scenario and turn my short term bias to a bearish view testing 106.25 before testing 105.60 support area. Immediate resistance is seen around 108.00. A clear break above that area could lead price to neutral zone in nearest term testing 108.50.
The GBPJPY had a bearish momentum yesterday, slipped below 130.00 but still unable to move consistently below 130.00 so far. The bias is neutral in nearest term. Immediate resistance is seen around 131.00/20 area. A clear break and daily close above that area would keep the bullish scenario remains strong. On the downside, a clear break and daily close below 130.00 could trigger further bearish pullback, turn my short term bias to a bearish view testing 128.70 area.
The AUDUSD was indecisive yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.0200. Immediate resistance is seen around 1.0320. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.0400 the technical bias should remain strongly to the downside and I still prefer to short on rallies at this phase.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.