The EURJPY continued its bearish pressure on Friday on a broad Yen strength, slipped below 112.08 earlier today in Asian session but still unable to make a clear break below 112.08 so far. Overall we are still in a range market between 110.80 – 114.00 and there are no changes in my daily outlook and I still prefer a bullish scenario. Aggressive traders can still long around 112.08 with stop loss below 110.80 while conservative traders can long around 110.80 with smaller stop loss.
The GBPJPY continued its bearish bias on Friday, bottomed at 131.11 but bounced higher around 131.70 at the time I wrote this comment. The bias is neutral in nearest term but overall we are still in a bearish phase after a failure to make a break above 135.50 and violated the trend line support as you can see on my h4 chart below. A clear break below 131.11 would continue the bearish pressure targeting 130.50 and 129.50. Immediate resistance at 132.50. A clear break above that area would change the intraday bias to bullish testing 133.25 region.
The AUDUSD continued its bullish bias on Friday and slipped above the trend line resistance (white) as you can see on my h4 chart below suggests potential further bullish pressure targeting 1.0256 all time high, even new all time highs in near future. Immediate support at 1.0150. A clear break below that area would lead us to neutral zone in nearest term testing 1.0120 – 1.0070 support area but overall we are still in strong technical bullish bias and short position is not recommended. However, note that the rising wedge bearish scenario remains intact and things could be a little bit tricky as we are now in a critical phase.
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