The EURJPY failed to continue its bullish correction yesterday. On h1 chart below we can see that the minor bullish channel has been violated to the downside indicating the end of the upside correction at this phase testing 108.07 area before targeting 106.00 and 104.00 region. Immediate resistance at 109.50 area. Consistent move above that area could lead us into no trading zone in nearest term as direction would become unclear but the main bearish scenario remains intact.
The GBPJPY was volatile but indecisive yesterday. Price attempted to push lower but found good support around the lower line of the bullish channel. Although the pressure seems more to the downside testing the bullish channel, note that as long as the bullish channel hold, the upside correction scenario is not over yet. We need a consistent move below the bullish channel to confirm bearish continuation at least towards 126.75. A failure to do so and another movement back above 133.20 area should keep the bullish scenario intact in nearest term, but the major scenario remains to the downside.
The AUDUSD bounced to the upside yesterday after failed to move below 0.8070 support area. On h4 chart below we can see that price also found resistance around 0.8275. As long as price stay below 0.8275, the scenario is still more to the downside re-testing 0.8070 again. On the other hand, a consistent move above that area could be a serious threat to the bearish scenario testing 0.8550 region.
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