The EURJPY had a significant bullish intraday movement yesterday, slipped above the ascending triangle and 111.04 resistance area as you can see on my h4 chart below. This fact could trigger further bullish correction scenario testing the trend line resistance and 112.50 area in nearest term. Immediate support is seen around 111.04 (former resistance). Another clear break below that area could lead price to neutral zone in nearest term testing 110.50 even reopens the door for another retest of 109.45. The trend line resistance and 113.40 are my key resistance area at this phase. A clear break above that area could end my bearish outlook and lead price to a new bullish phase.
The GBPJPY was volatile but indecisive yesterday, made a Doji on daily chart. The bias remains neutral in nearest term but the major scenario remains to the downside as long as price stays below the trend line resistance, still targeting 124.85 as nearest bearish target. Immediate resistance is seen around 126.20/50. A clear break above that area could trigger further bullish pullback retesting the trend line resistance and 127.00/30 key resistance area. Immediate support is seen around 125.80. A clear break below that area would keep the major bearish scenario strong, testing 124.85.
The AUDUSD was volatile but indecisive yesterday, made a Doji on daily chart. There are no changes in my technical outlook. The bias is neutral in nearest term and I think I will keep stand aside for now until we have a clear break above 1.0600 or below 1.0300. Aggressive intraday traders can still long around 1.0300 or short around 1.0600 with a tight stop loss. The current wide range condition force us to be a little bit patient and hopefully we can see a clearer direction next week.
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