The EURJPY was indecisive yesterday. Price attempted to push higher but closed lower at 101.77 after found a resistance around 102.48 as you can see on my daily chart below. The bias is neutral in nearest term but this fact keeps the major bearish scenario remains strong testing 100.74 – 100.00 support area. On the upside, we need a clear break and daily close back above 102.48 to postpone the bearish scenario and continue the bullish correction phase testing 104.00/95 resistance area.
The GBPJPY had a moderate bullish momentum yesterday but still unable to make a clear break above 122.62 key resistance area. The bias remains bullish in nearest term but need a clear break above 122.62 to continue the bullish momentum testing 124.00 – 125.50 as the double bottom bullish reversal scenario might regain its momentum. Immediate support is seen around 121.81 (yesterday’s low). A clear break below that area could lead price to a neutral zone in nearest term testing 121.00 area.
The AUDUSD attempted to push higher yesterday, topped at 1.0218 but whipsawed to the downside and now struggling around 1.0080. The bias is neutral in nearest term. As long as stays inside the triangle price is still in a consolidation phase. I still prefer a bearish reversal scenario after hit the record high five months ago and expecting the upper line of the triangle hold before make a break below the triangle and 0.9785. Immediate resistance is seen around 1.0105. A clear break above that area could trigger further bullish pressure testing 1.0250 and the upper line of the triangle. Immediate support is seen around 1.0040. A clear break below that area could trigger further bearish pressure testing 0.9980/25 support area.
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