The EURJPY attempted to push lower yesterday, hit my short target at 132.90 but whipsawed to the upside, topped at 134.44 and closed at 134.08. On h4 chart below we can see that after violated the bullish channel (blue) to the downside, the pair is making a new bearish channel (red) but price is now ready to test the upper line of the bearish channel. A a violation to the bearish channel should be seen as bearish failure and trigger further bullish momentum but at this phase that would be a no trading zone for me. Immediate resistance at 134.70. Break above that area should lead to further bullish momentum towards 135.85 area. Initial support 133.90. Break below that area should keep the bearish scenario intact.
The GBPJPY attempted to push lower yesterday, bottomed at 151.05 but closed higher at 152.02. On h4 chart below we still have the bearish channel indicating the bearish scenario remains intact. I still prefer a downside scenario but we might have further upside correction today. CCI just cross the -100 line up on h4 chart suggesting potential upside pressure. The bias is bullish in nearest term testing 153.40. Break above that area should be seen as bearish failure. Initial support at 152.00. Break below that area should continue the bearish scenario towards 150.80 area.
The AUDUSD had a significant bullish momentum yesterday, topped at 0.8417 and closed at 0.8387. On h4 chart below we can see that the trendline support (which also the lower line of the new triangle) did a good job prevented further bearish pressure. From a bigger view, we have a triangle formation indicating a consolidation with the pressure is on the upside now. The bias is bullish in nearest term but wee need a clear breakout from the triangle to confirm bullish scenario targeting 0.8500. Immediate support at 0.8350. Break below that area should be seen as bullish failure.