The EURJPY had a limited bearish momentum yesterday. Price attempted to push lower, bottomed at 129.63 but closed higher at 130.19. On h4 chart below we have a minor bearish channel indicating the pressure is still on the downside in nearest term but we need a consistent move below 130.00 area to continue the bearish scenario targeting 129.00 area. Immediate resistance at 130.50/70 area. Break above that area should lead us to no trading zone but I still prefer a bearish scenario at this phase.
The GBPJPY had a bullish momentum yesterday, but as you can see on my daily chart below prices still trapped in triangle area. I think we are still in no trading zone and need a break from the triangle to see clearer direction. Breakout from the triangle should trigger further bullish scenario towards 153.22 while a breakdown below the triangle should trigger further bearish pressure towards 145.50 area.
The AUDUSD didn’t make a significant move yesterday. It seems like price is consolidating but I prefer a bearish scenario at this phase as we seem to have a top around 0.9325 area. Bullish channel violation confirmed the bullish failure which potentially produce bearish scenario. Expected range at 0.9278 – 0.9170. Break below 0.9170 should trigger further bearish momentum targeting 0.9090 area.