The EURJPY had a bullish momentum last week, topped at 107.98 but still unable to move consistently above 107.45 so far. The bias is bullish in nearest term testing 108.00. A clear break and daily close above that area could trigger further bullish scenario testing 109.00 – 109.50 region. Immediate support is seen around 106.80. A clear break below that area would lead price to neutral zone in nearest term but could create a false breakout scenario testing 105.60.
The GBPJPY had a bullish momentum last week, topped at 131.77 and closed at 131.35. The bias is bullish in nearest term testing 132.50 area. Immediate support is seen around 130.88 (current low). A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 130.00 I still prefer a bullish scenario at this phase with buy on dips strategy.
The AUDUSD didn’t make significant movement last week. There are no changes in my technical outlook. The bias remains neutral in nearest term but overall I remain bearish on this pair and only a clear break and daily close above 1.0450 would activate my wait and see mode. On the downside, we need a clear break and daily close at least back below 1.0300 to keep the bearish scenario remains strong testing 1.0200 or lower.
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