The EURJPY had another indecisive movement yesterday. The bias remains neutral in nearest term and there are no changes in my technical outlook. On daily chart below we can see price has been moving sideways between 111.04 – 109.45 and need a daily close above 111.04 or below 109.45 to see clearer direction. A clear break and daily close above 111.04 could trigger further bullish correction testing the trend line resistance. On the downside, a clear break and daily close below 109.45 would keep the bearish scenario remains strong testing 106.57. Aggressive intraday traders can still take the advantage of the current sideways mode with long around 109.45 or short around 111.04 with tight stop loss.
The GBPJPY made another indecisive movement yesterday, made another Doji on daily chart. The bias remains neutral in nearest term and there are no changes in my technical outlook. Overall, as long as price stays below the trend line resistance my major outlook remains to the downside and the trend line resistance and 127.00/30 area remains a good place for a short position with 124.85 as nearest target. Immediate support is seen around 126.00. A clear break below that area could trigger further bearish pressure testing 124.85 region.
The AUDUSD had a bullish momentum yesterday, topped at 1.0533 and closed at 1.0514. On hourly chart below we can see price is moving inside a minor bullish channel suggests a bullish intraday outlook testing 1.0600 but unless price breaks above 1.0600 or below 1.0300, my overall technical bias remains neutral. Immediate support is seen around the lower line of the bullish channel and 1.0440 region. A clear break below that area could stop the current bullish intraday bias, testing 1.0300 area.
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