The EURJPY was corrected higher yesterday, topped at 112.59 but there were some downside pressure earlier today in Asian market hit 111.62. The bias remains neutral in nearest term but overall, as long as price stays below 113.40 my intraday technical bias remains to the downside. Immediate support is seen at 111.20. A clear break below that area could change the intraday bias back to bearish retesting 109.45 region but we need a clear break below 109.45 to continue the bearish scenario testing 106.57.
The GBPJPY was corrected higher yesterday but found a good resistance around 127.77 and traded lower earlier today in Asian session hit 126.78. This fact keeps my bearish intraday outlook intact retesting 125.95. A clear break below that area could trigger further bearish pressure retesting 124.85 and would open the door for a revisit of 122.93 region. On the upside, only a clear break above 127.77 could stop the current strong bearish outlook.
The AUDUSD had a significant bullish momentum yesterday, topped at 1.0798 on broad US Dollar weakness but still unable to make a clear break above 1.0770/90 resistance area so far. The bias is bullish in nearest term and my double top bearish scenario has failed but note that 1.0770/90 resistance area has been a good resistance so far and need a clear break above that resistance area to continue the bullish scenario testing 1.0877 and 1.1010 historical high. Overall price has been moving in a sideways condition for more than two months now as you can see on daily chart below and need a clear break on either side to see clearer direction. Immediate support is seen at 1.0680. A clear break below that area could trigger further bearish pressure testing 1.0600 and reopen the door for another retest of 1.0500 support area.
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