The EURJPY had a moderate bullish momentum yesterday but still able to move below 104.95 resistance area. The bias remains neutral in nearest term. I still prefer to short around 104.95 with a tight stop loss as a clear break and daily close above 104.95 could turn the intraday bias to a bullish view testing 106.00/50 and the major trend line resistance (white). Immediate support is seen around 104.50 – 104.00. A clear break below that area could trigger further bearish pressure testing 103.40/50 even 122.20 – 100.74.
The GBPJPY had another indecisive movement yesterday. The bias remains neutral in nearest term. I still prefer a bearish intraday scenario at this phase, short around 122.62 with a tight stop loss as a clear break and daily close above 122.62 could turn my intraday bias to a bullish mode and the double bottom bullish reversal scenario might start to regain its momentum testing 125.50 even higher. Immediate support is seen around 121.75 – 121.25 area. A clear break below that area could reopen the door for another downside pressure testing 120.50 – 119.00 support area.
The AUDUSD attempted to push lower yesterday, bottomed at 1.0149 but closed higher at 1.0219. The bias is neutral in nearest term but still within a context of a strong bullish intraday outlook after the appearance of the double bottom formation as you can see on my h4 chart below, still testing 1.0440 resistance area and only a clear break below 0.9925 support area could be a threat to the bullish scenario. Immediate support is seen around 1.0149 (yesterday’s low) followed by 1.0080.
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