The EURJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. On h4 chart below we have a descending triangle formation which is a bearish formation especially if price break below the triangle testing 110.66 area before targeting 108 – 109 area. Immediate resistance at 113.25 area. Break above that area could trigger further bullish pressure testing 114.50 region.
The GBPJPY still trapped in range area of 133.20 – 130.80 area as you can see on my h1 chart below, but still in a bullish correction context as price still move inside the bullish channel. The bias is neutral in nearest term and we need a clear break from the range area to see clearer direction. A breakout could trigger further bullish momentum testing 134.80 area while a breakdown could trigger further bearish pullback testing 129.00 and the lower line of the bullish channel.
The AUDUSD was indecisive yesterday, formed a Doji on daily chart. On h4 chart below we can see that price retreat to the downside after significant bullish momentum, indicating a bearish consolidation but still within a bullish context as long as price able to stay above 0.8360 support area with 0.8716 area as potential upside target. On the other hand, a break below 0.8360 could be a serious threat to the bullish outlook testing 0.8200 area before targeting 0.8070 region.
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