The EURJPY was indecisive yesterday, but had a bullish correction earlier today in Asian session, hit 107.85. The bias is bullish in nearest term testing 108.50 but as long as price stay below the trend line resistance the major scenario remains to the downside. Immediate support at 107.05 (current low). Break below that area could end the bullish correction phase and continue the bearish pressure targeting 106.25 before testing 105.42.
The GBPJPY didn’t make significant movement yesterday. We are still in bullish correction phase, but 129.30 resistance area has proven itself as a strong resistance. The bias is neutral in nearest term and we are still in critical technical point, where a clear break above 129.30 could be an early signal of bullish reversal at least targeting 130.30 in nearest term. Immediate support at 128.30 followed by 127.50.
The AUDUSD made another indecisive movement yesterday, but had a bearish momentum earlier today in Asian session, hit 0.9841. The bias is bearish in nearest term testing 0.9800 – 0.9750 support area and I think it’s good to keep the idea that we are in potential big downside correction scenario after hit all time high. Immediate resistance at 0.9880. Break above that area could lead us to neutral zone in nearest term but overall we are still in a strong bearish correction scenario with medium term bearish target is seen around 0.9550 area.
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