My strategy to long around 131.75 worked perfectly yesterday. Price topped at 132.77, closed at 132.51 and traded around 132.80 at the time I wrote this comment. The bias is bullish in nearest term targeting 133.50 area. Immediate support at 132.50 area. Break below that area should lead us into no trading zone as direction would become unclear for me.
The GBPJPY had a significant bullish momentum after breakout from range area, as you can see on my h4 chart below, topped at 148.93 and closed at 148.56. The bias is bullish in nearest term but we seem to have a good resistance around 149.05 area. We need a clear break above that area to continue the bullish towards 150.30 area. Immediate support at 148.00 area. Break below that area should lead us into no trading zone but I still prefer a bullish scenario at this phase.
The AUDUSD made indecisive movement yesterday, formed a Doji on daily chart but had a significant bullish momentum earlier today in Asian session by break above the trendline resistance. This fact should trigger further bullish momentum targeting 0.9020. Immediate support at 0.8930 area. Break below that area should be seen as a false breakout which should trigger significant bearish momentum towards 0.8850 area and keep the bearish scenario intact.
Forex Trader Library Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.