The EURJPY was corrected higher yesterday, but unable to make a clear break above 109.45 so far, hit 108.80 earlier today in Asian session. This fact keeps my bearish intraday outlook intact, still targeting 106.57. There are no changes in my daily technical outlook. Only a clear break and daily close above 109.45 could stop my bearish intraday bias but as long as price stays below the trend line resistance my overall technical view remains to the downside.
The GBPJPY was corrected higher yesterday, but found a good intraday resistance around 124.85 as you can see on my daily chart below. This fact keeps my bearish intraday outlook remains intact, still targeting 122.93 even lower. On the upside, only a clear break and daily close above 124.85 could stop the current bearish intraday outlook testing 125.80 but as long as price stays below the trend line resistance my overall technical bias remains to the downside.
The AUDUSD had a bullish momentum yesterday, but the 23.6% Fibo retracement of 0.8066 – 1.1079 which located around 1.0380 still provide a good resistance far, keep the intraday bearish bias after the rapid fall from all time high 1.1079 remains intact. However, note that we need a clear break below the trend line support (white) to continue the bearish correction/reversal scenario. Aggressive intraday traders may short around 1.0380 with tight stop loss. Immediate support is seen around 1.0250. A clear break below that area could trigger further bearish pressure testing 1.0170 and 1.0100 and would reopen the door for another retest of the trend line support.
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