The EURJPY made another indecisive movement yesterday, made another Doji on daily chart indicates that we are still in consolidation phase in range area of 113.00 – 111.60. There are no changes in my daily technical outlook and strategy and waiting for another correction near 111.60 support area to go long is still the best intra-day plan I can think of. Another good buying opportunity could be provided by a clear break above 113.00, which could lead us to further bullish continuation targeting 114.90 area. On the downside, a break below 111.60 would lead us to neutral zone and activate my wait and see mode.
The GBPJPY was recovered higher yesterday, topped at 131.05 and closed at 130.82. The bias is bullish in nearest term testing 132.00. Immediate support at 130.40 followed by 129.30. Overall there are no changes in my daily technical outlook where we are still in bullish phase as long as price stays above 129.30 targeting 133.00. On h4 chart below you can see the reason why 129.30 support area is a key level for me. A clear break below that area could lead us to a bearish phase.
The AUDUSD made another indecisive movement yesterday, which should not be a surprise in a consolidation phase. There are no changes in my daily technical outlook and strategies and aggressive traders can still short around 1.0020 or long around 0.9800 with tight stop loss, trying to take advantage of this sideways market with a good risk-reward ratio. In this condition, be patient and do not jump into the market just because of your hourly chart shows a bullish or bearish indication. We need a clear break on either side to see clearer direction. I still believe that price is in a big bearish correction scenario and prefer a bearish outlook but as always, I will react to any facts and real price actions in the market, regardless of my expectation.
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