The EURJPY had a bearish momentum yesterday, but still unable to move consistently below 109.20 area. The main scenario remains bearish but again, we need a consistent move below 109.20 to continue the bearish pressure testing 108.07 – 107.30 area. Immediate resistance at 110.26 (yesterday’s high) followed by 110.70.
The GBPJPY had a moderate bearish momentum yesterday. On h1 chart below we have a descending triangle indicating potential further bearish outlook especially if price break below the triangle testing 132.00. On the other hand, break above the triangle could trigger further upside recovery testing 134.80 area but the main scenario remains bearish as long as price move inside the bearish channel.
The AUDUSD attempted to push lower yesterday, bottomed at 0.8858 but whipsawed to the upside, closed at 0.8978 and keep moving higher earlier today in Asian session. The bias is bullish in nearest term testing 0.9040 and 0.9094 area. Immediate support at 0.8930 area. Break below that area could trigger further bearish pressure re-testing 0.8858.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.