The EURJPY was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term but as long as stays below 100.74 I still prefer a bearish scenario with sell on rallies strategy at least testing 97.00 support area this week. Immediate resistance is seen around 98.50 – 99.00 area.
The GBPJPY had a bearish momentum yesterday, bottomed at 117.70 and hit 117.65 earlier today. The bias is bearish in nearest term testing 116.82. Immediate resistance is seen around 118.00. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 119.35 my overall intraday bias remains strongly to the downside and only a clear break back above 122.62 would stop the bearish outlook.
The AUDUSD was indecisive yesterday but overall still able to maintain its bullish bias. The bias remains neutral in nearest term. On the upside we need a clear break above the ascending triangle and 1.0385 resistance area to confirm further bullish scenario testing 1.0500 – 1.0600. Immediate support remains around 1.0250. A clear break and daily close below that area could trigger further bearish pressure testing 1.0144 and the lower line of the ascending triangle. Until we have a break from the triangle I prefer to stand aside for this pair.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.