The EURJPY attempted to push higher on Friday, slipped above 104.95, topped at 105.50 but whipsawed to the downside and close at 104.41 after the US NFP data. The bias is bearish in nearest term and a false breakout scenario might be produced testing 103.40/50 area even lower. On the upside, a clear break and daily close above 104.95 would turn my intraday bias to a bullish view testing the trend line resistance (white) and 106.00/50 area.
The GBPJPY attempted to push higher on Friday, topped at 122.55 but closed lower at 121.57. Looks like we have a triple top formation around 122.62 strong resistance. This fact keeps my bearish intraday outlook intact testing 120.50 – 119.00 area. My double bottom bullish reversal scenario remains valid, but as long as stays below 122.62 I still prefer a bearish intraday scenario at this phase.
The AUDUSD was volatile but indecisive on Friday. Price attempted to push higher, topped at 1.0322 but whipsawed to the downside and closed at 1.0214 after the US NFP data. On my h4 chart below we can see price is moving sideways after the bullish momentum triggered by the double bottom formation suggests a consolidation phase but still with more upside bias. The bias is neutral in nearest term. Immediate support is seen around 1.0149. A clear break below that area could trigger further bearish pullback testing 1.0080. On the upside, a clear break and daily close above 1.0329 would continue the double bottom bullish scenario testing 1.0440.
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