The EURJPY attempted to push higher on Friday, but found a good resistance at the trendline resistance as you can see on my h4 chart below. The bias is neutral in nearest term. We need a clear break above the trendline resistance to continue the bullish correction at least testing 111.70 region. Immediate support at 109.00 region. Consistent move below that area could trigger further bearish pressure testing 108.00 – 107.30 area and price may ready to resume its major bearish scenario testing at least 106.50/00 area.
The GBPJPY still move inside the triangle formation as you can see on my daily chart below indicating consolidation. The bias remains neutral in nearest term and we need a break on either side of the triangle to see clearer direction. Expected range at 134.80 – 132.00. Break above 134.80 could trigger further upside correction testing 136.40 and 138.00. On the other hand, break below 132.00 could continue the major bearish scenario at least testing 129.00 before targeting 126.75 region.
The AUDUSD was indecisive on Friday. The bias is neutral in both nearest and medium term and I think we area in no trading zone now. Expected range at 0.8550 – 0.8316. Break above 0.8550 could trigger further bullish momentum testing 0.8650. On the other hand, break below 0.8316 could trigger further bearish pressure testing 0.8200 before targeting 0.8070 key support area.
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