The EURJPY continued its bearish momentum yesterday after broke below the minor bullish channel as you can see on my h1 chart below and now struggling around 115.80 support area. The bias is bearish in nearest term testing 115.00 region. The false breakout above the trend line resistance and failure to make a break above 117.88 key resistance area could create a bearish scenario testing 113.40 key support area which would keep the bearish scenario since the fall from 123.31 remains intact but as long as price stays above 113.40 my overall h4 chart outlook remains sideways between 117.88 – 113.40.
The GBPJPY attempted to push lower yesterday, bottomed at 128.95 but closed a little bit higher at 129.51. The bias is bearish in nearest term testing 129.00 and the trend line support (white) as you can see on my hourly chart below. A clear break below the trend line support could trigger further bearish pressure testing 128.20 which would be a threat to the falling wedge bullish scenario. Immediate resistance is seen around 129.75. A clear break above that area could trigger further bullish momentum testing 130.20 – 130.83 and keep the falling wedge bullish scenario intact.
The AUDUSD was indecisive yesterday and unable to make a clear break below the neckline of the H&S scenario around 1.0670. There were some upside pressures earlier today in Asian session and price hit 1.0760. A clear break above 1.0770 will cancel the H&S bearish scenario and give the bullish scenario another chance testing 1.0877 and 1.1010 all time high. The H&S bearish scenario remains intact but would need a clear break below 1.0670 to continue the bearish outlook testing 1.0600 – 1.0500 support area.
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