The EURJPY had a bearish momentum yesterday after unable to make a clear break above 117.60, slipped below 116.00 but bounced to the upside and hit 116.71 earlier today in Asian session. The bias is neutral in nearest term but as long as price moves inside the bullish channel my overall intraday bias remains to the upside. Immediate support at 115.76 (yesterdays low). A clear break below that area could trigger further bearish momentum testing 114.00. On the upside, a clear break above 116.70 could trigger further upside pressure retesting 117.60 and keep the bullish scenario remains strong.
The GBPJPY had a significant bearish momentum yesterday, slipped below the bullish channel and hit 131.94. This fact is a serious threat to my bullish outlook. The bias is bearish in nearest term especially if price able to make another bearish pressure below 131.94 testing 131.25 – 130.70 area. Immediate resistance at 133.00. A clear break above that area would lead us to neutral zone in nearest term as direction would become unclear testing 134.00.
The AUDUSD had a bearish momentum yesterday, break below 1.0650/30 support area and hit 1.0586 earlier today in Asian session. This fact stops my bullish intraday bias after the rejection to break above 1.0770 key resistance area and daily CCI failure to move above 100 level but at least give us a clearer intraday bias which is bearish especially if price able to make a clear break below 1.0586 testing 1.0500 after a sideways movement since Monday. Immediate resistance at 1.0650. A clear break above that area would lead us to neutral zone in nearest term as direction would become unclear but would give another chance for upside attempt retesting 1.0770 key resistance area.
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