The EURJPY was volatile but indecisive yesterday. The bias is neutral in nearest term and there are no changes in my daily technical outlook and price still trapped in range area of 117.80 – 116.00. Aggressive intraday traders still can short around 117.80 or long around 116.00 with tight stop loss. We need a clear break on either side to see clearer direction. A clear break below 116.00 could trigger further bearish pullback testing 114.00 and the lower line of the bullish channel which could be a threat to the bullish scenario while a clear break above 117.80 could trigger further bullish momentum and keep the bullish scenario remains strong.
The GBPJPY still moving indecisively so far, trapped in range area of 132.28 – 130.47 since Monday. The bias is neutral in nearest term. There are no clear direction and momentum and I still prefer to stand aside for now. My overall technical bias remains to the downside but need a clear break below 130.20 to continue the bearish scenario testing 129.00 – 128.00 area and reactivate my bearish mode. Key intraday resistance remains around 132.28. I don’t expect a break above that area as it could be a threat to the bearish outlook testing 135.15.
The AUDUSD was volatile but indecisive yesterday. Price attempted to push lower bottomed at 1.0562 but further bearish pressure was rejected and hit 1.0650 earlier today in Asian session. Like I said yesterday, as long as price stays below 1.0660 my intraday bias remains more to the downside still targeting 1.0500. However, as you can see on my hourly chart below we have a falling wedge formation suggests a potential warning about a bullish pullback especially if price break above the wedge and 1.0660 retesting 1.0756/70 key resistance area.
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