The EURJPY had a significant bearish momentum yesterday, broke below the bullish channel as you can see on my h4 chart below. This fact could end the bullish phase and lead price to a new bearish phase at least testing 113.40 in nearest term. On longer term outlook, this bullish failure could even targeting 109.50 even 106.57. Immediate resistance at 115.00. A clear break above that area could lead us to neutral zone in nearest term but as long as price stays below 116.00 my intraday bias should remain more to the downside now.
The GBPJPY had a bearish momentum yesterday on broad Yen strength but technically there are no significant changes as price still trapped in range area of 132.30 – 130.20 as you can see on my h4 chart below. I still prefer a bearish scenario but would need a clear break below 130.20 to continue the bearish scenario testing 129.00 and 128.00. Aggressive traders can short around 132.30 with tight stop loss.
The AUDUSD had a significant bearish momentum yesterday and hit 1.0524 earlier today in Asian session. The bias is bearish in nearest term. On my h4 chart below we can see price is now back below the trend line support suggests the major bearish pullback scenario since fell from all time high 1.1010 remains intact especially if price able to make a clear break below 1.0500 testing 1.0388 even 1.0200. Immediate resistance at 1.0600. A clear break above that area could lead us to neutral zone in nearest term as direction would become unclear but only a clear break above 1.0770 could create a bullish scenario retesting 1.1010.
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