The EURJPY continued its bullish momentum yesterday, topped at 117.78 but still unable to make a consistent movement above 117.60 resistance area so far. The bias remains bullish in nearest term especially if price able to make a clear break above 117.60 testing the trend line resistance and 118.50 resistance area. Immediate support at 116.70. A clear break below that area would lead us to neutral zone in nearest term testing 116.00 but as long as price stays above 116.00 I still prefer a bullish intraday bias at this phase as price still moving strongly to the upside inside the bullish channel as you can see on my h4 chart below. I do not expect any movement below 116.00 but a clear break below that area could trigger further bearish pullback testing the lower line of the bullish channel and 114.00 support area.
The GBPJPY attempted to push higher yesterday but whipsawed to the downside and closed lower below 134.00 after found a good resistance around 135.15. The bias is neutral in nearest term but strong rejection to move to the upside yesterday could produce further bearish pullback especially if price able to make a clear break below 133.50 testing 132.61 and the lower line of the bullish channel as you can see on my h4 chart below. However, as long as the bullish channel hold my overall intraday bias remains to the upside. Immediate resistance at 134.20. A clear break above that area could trigger further bullish pressure retesting 135.15.
The AUDUSD was volatile but indecisive yesterday. The bias is neutral in nearest term. My overall intraday bias remains to the upside but we still need a clear break above key resistance area around 1.0770 and a daily CCI above 100 level to continue the bullish scenario testing 1.0887 before retesting 1.1010. Immediate support remains around 1.0650/30. A clear break below that area could trigger further downside pressure testing 1.0500.
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