As I had expected, the EURJPY continued its bullish momentum yesterday, topped at 131.96 and closed at 131.80. On h4 chart below we can see that my trendline resistance has been violated to the upside indicating bearish failure and the beginning of new bullish outlook. The bias remains bullish in nearest term targeting 132.80. Immediate support at 131.75. Break below that area could lead us into no trading zone but overall I am in buy mode now with buy the dips strategy.
The GBPJPY continued its bullish momentum yesterday, made a significant technical move by break above 144.60 and now above my minor trendline resistance (blue) indicating bearish failure and potential bullish view targeting 148.50 in longer term. The bias is bullish in nearest term targeting 147.65 area. Immediate support at 145.20 followed by 144.60. As long as the pair stay above 1.44.60 I am in a buy mode with buy the dips strategy.
The AUDUSD attempted to push higher yesterday, topped at 0.9294 but closed lower at 0.9256. On h4 chart below we can see that price has break above my minor trendline resistance (blue) indicating potential bullish outlook and I am in buy mode right now with nearest target remains at 0.9327. Break above that area should trigger further bullish momentum targeting 0.9404 area. Immediate support at 0.9230 (yesterday’s low). Break below that area should lead us into no trading zone but overall the sentiment should remains negative for the Greenback and short position is not recommended at this phase.