The EURJPY bullish momentum was paused yesterday. On daily chart below we have a â€œhanging manâ€ candlestick formation after bullish run indicating potential bearish reversal testing 131.50 area. However I think it’s better to stay away now. Break below 131.50 should give us a bearish view. Immediate resistance is seen at 133.40. Break above that area should continue the bullish momentum towards 134.50 area.
The GBPJPY bullish run also paused yesterday. The bias is neutral in nearest term. On the upside we have important resistance around 155.20 area. Break above that area should set up further bullish scenario. On the downside pay attention to 153.00 area. Break below that area should trigger further weakness for the Cable.
The AUDUSD bullish momentum was limited yesterday. The bias is neutral in nearest term. On h4 chart below we still have valid bullish channel but the trendline resistance should provide good support at this phase. Only clear breakout above the trendline would set up further bullish scnario re-testing 0.8261. Immediate support at 0.7950. Break below that area should trigger further bearish momentum.