The EURJPY had a significant bearish momentum last week but closed higher at 111.67 after found a support around 109.45 region. There were another downside pressures earlier today hit 110.64. The bias is bearish in nearest term but the major bearish continuation scenario can only be confirmed by a clear break below 109.45 support area. Immediate resistance is seen around 111.50 – 112.00. A clear break above that area could lead us to neutral zone in nearest term but as long as price stays below 113.40 my overall intraday bias remains to the downside.
The GBPJPY attempted to push lower last week, bottomed at 124.85 but closed higher at 127.42. The bias is neutral in nearest term. However as long as 127.77 – 128.18 resistance area hold, overall my intraday bias remains to the downside. A clear break above 128.18 would activate my wait and see mode but as long as price moves below the trend line resistance (red) my overall technical bias remains to the downside. Immediate support is seen around 126.80. A clear break below that area could trigger further bearish pressure testing 126.00 and 125.95.
The AUDUSD was indecisive last week. While my daily/h4 chart outlook remains unclear as price still moves in a range/sideway condition as you can see on my daily chart below, the fact that 1.0770/90 key resistance area still hold so far creates a bearish intraday outlook testing 1.0500. Immediate resistance is seen around 1.0680. A clear break above that area would lead us to neutral zone in nearest term retesting 1.0770/90 key resistance area.
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