The EURJPY failed to continue its bullish momentum yesterday, bottomed at 106.30 and closed at 106.61. This fact creates a false breakout bearish scenario at least in nearest term testing 105.60. Immediate resistance is seen around 106.85. A clear break above that area could lead price to neutral zone in nearest term retesting 107.45 resistance area.
The GBPJPY failed to continue its bullish momentum yesterday, bottomed at 130.18 and closed at 130.67. The bias is bearish in nearest term but I still prefer a bullish scenario at this phase. Buying around 130.00 seems to be a good idea with good risk – reward ratio targeting 133.50 with tight stop loss below 130.00. A clear break and daily close below 130.00 would lead medium term bias to a neutral zone as direction would become unclear but turn my nearest term bias to a bearish view.
The AUDUSD had a bearish momentum yesterday, bottomed at 1.0270 and hit 1.0246 earlier today. The bias is bearish in nearest term testing 1.0200. A clear break and daily close below 1.0200 could trigger further bearish scenario testing 1.0100 – 1.0000 area. Immediate resistance is seen around 1.0285. A clear break above that area could lead price to neutral zone in nearest term testing 1.0325 but as long as stays below 1.0400 – 1.0450 I remain bearish on this pair.
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