The EURJPY had a bullish momentum after violated the minor trendline resistance yesterday, as you can see on my h4 chart below. This fact could trigger further upside recovery testing 113.36 region in nearest term but note that the major scenario remains bearish. On the downside, consistent move back below 110.60 could wane the bullish correction momentum testing 109.00 – 108.00 region.
The GBPJPY continued its bullish correction yesterday, topped at 134.41 and keep moving higher around 134.60 at the time I wrote this comment. The bias is bullish in nearest term testing 136.24 region but note that this upside movement is just a normal correction from longer term of view. Immediate support at 133.20 area. Break below that area could trigger further bearish pressure testing the lower line of the bullish channel.
The AUDUSD continued its bullish momentum yesterday after able to move consistently above 0.8275 region. The bias is bullish in nearest term testing 0.8550. Break above that area could trigger further bullish momentum targeting 0.8650 before testing 0.8790 region. Immediate support at 0.8400. Break below that area could trigger further bearish pressure testing 0.8275 region.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.