The EURJPY failed to continued it’s bullish momentum yesterday. The pair bottomed at 132.88 and closed at 133.93. It was technically a mess where price seemed to had a valid breakout from the resistance trendline but then retreated back below the trendline and now testing the bullish trendline support as seen at h4 chart below. A violation to that trendline support should set up a bearish view. Immediate support is seen at 132.90. Break below that area should trigger further bearish pressure testing 131.50 area. Initial resistance at 134.60.
The double top formation around 157.59 area I showed you yesterday was proved to be a good signal of a bearish pullback. The pair bottomed at 154.12 and closed at 155.20. On h4 chart below we have a violated rising wedge formation which is also support bearish view. This fact should cancel the bullish scenario for now. The bias is bearish in nearest term testing 153.70 and even 152.30 area. Immediate resistance at 155.60. Break above that area should lead us into no trading zone.
The AUDUSD had significant bullish momentum yesterday. Finally, after 9 weeks of range (consolidation) market between 0.7700 â€“ 0.8261 the pair break above 0.8261, topped at 0.8337 but closed lower at 0.8235. Surely we have a hope for potential continuation bullish trend (which should give us a chance to trade) , but the fact that the pair closed below 0.8261 suggests that the bullish trend is not mature yet. So we have to be really careful here. Only consistent move above 0.8261 should trigger further bullish scenario targeting 0.8500 area. Immediate support at 0. 8150.