The EURJPY was able to maintain its bullish nearest term bias yesterday after failed to move below 110.60 support area and now seems comfortable stays above the trendline resistance indicating potential further upside recovery testing 113.36. Break above that area could trigger further bullish momentum testing 114.15 and 115.50 region. Immediate support provided by the minor trendline support (blue, S1) and 111.70 area. Break below that area could lead us into no trading zone in nearest term but as long as price move above the major trendline support (white, S2) and 110.60 support area the bullish correction scenario remains intact.
The GBPJPY attempted to push lower yesterday, bottomed at 133.93 but whipsawed to the upside and closed higher at 135.40. This fact should keep the bullish correction intact testing 136.24. Break above that area could trigger further bullish scenario testing 138.20 region. Immediate support at 134.70 and the minor trendline support (blue, S1). Break below that area could lead us into no trading zone in nearest term but as long as price move inside the bullish channel the bullish correction scenario remains intact.
The AUDUSD slipped below the trendline support (red) yesterday but further downside momentum was rejected and now price back above the trendline support indicating potential bullish view. However note that we need a consistent move above the trendline resistance (white) to continue the bullish scenario targeting 0.8745 before testing 0.8860 region. On the other hand, consistent move below the trendline support could lead us into no trading zone testing 0.8550 support area.
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