The EURJPY had a significant bullish momentum yesterday, topped at 133.38 and closed at 132.87. This fact is a violation to the bearish medium term indicated by the H&S formation. The bias remains bullish in nearest term testing 134.50. However CCI in overbought area and heading down on h4 chart so watch out for a potential downside pullback testing 131.50 support area (former resistance).
The GBPJPY had a significant bullish movement yesterday, topped at 155.14 and closed at 154.72. On h4 below we can see that the double bottom formation around 127.00 gave us a valid bullish reversal signal. The bias is bullish in nearest term testing 156.50. However CCI in overbought area and heading downÂ on h4 chart suggesting potential downside pullback testing 153.00 area.
The AUDUSD continued it’s bullish momentum yesterday, topped at 0.8055 and closed at 0.8029. On h4 chart below we can see that the pair has been moving convincingly in bullish channel since failure to break below 0.7710 on Monday. The bias remains bullish in nearest term testing 0.8120/50 area. However CCI in overbought area and heading down on h4 chart so watch out for potential downside rebound testing 0.7950 support area.