The EURJPY made another indecisive movement yesterday, formed another Doji on daily chart indicating consolidation. On h4 chart below we can see that after had a significant bearish movement in major bearish channel, price corrected to the upside, moving in a new minor bullish channel but found a good support around 124.80 area. It seems like price need to break above that area to continue further bullish correction. Immediate support at 122.75 area (yesterday’s low) and the lower line of the bullish channel. Violation to the bullish channel should be seen as the end of the bullish correction phase and continue its major bearish scenario.
The GBPJPY attempted to push lower yesterday, bottomed at the lower line of the bullish channel but closed higher at 142.49. Earlier today in Asian session, price made another downside pressure, re-testing the lower line of the bullish channel. The bias is bearish in nearest term but we need a consistent move below the bullish channel to confirm further bearish momentum targeting 139.70 area. Immediate resistance at 143.00 area. Break above should continue the bullish correction scenario.
The AUDUSD had a moderate bearish momentum yesterday, but as you can see on my h4 chart below, the bullish channel has been violated to the downside indicating potential bullish failure, especially if price able to move consistently below 0.8910 area targeting 0.8780 area. Immediate resistance at 0.9000 followed by 0.9040 area.