The EURJPY bullish correction was paused yesterday. On h4 chart below we can see that price slipped below the minor trendline support (blue) and struggling around that trendline. The bias is neutral in nearest term. Consistent move below the minor trendline support could trigger further bearish pressure testing the major trendline support (white) but as long as price stay above the major trendline support the bullish correction scenario remains intact. On the upside we need a movement above the trendline resistance (red) and 113.36 area to continue the bullish correction scenario testing 114.15 and 115.50 region.
The GBPJPY failed to continue its bullish momentum yesterday. On h4 chart below we can see that price break below the minor trendline support indicating limited bullish and price may testing the lower line of the bullish channel. The bias is neutral in nearest term and we are in no trading zone but as long as price move inside the bullish channel the bullish correction scenario remains intact. Immediate support at 133.20. Break below that area could be a serious threat to the bullish correction scenario and price may resume its major bearish scenario. On the upside, we need a movement above 136.24 to continue the bullish correction testing 138.20.
The AUDUSD was indecisive yesterday. The bias is neutral in nearest term. We need a consistent move above the trendline resistance to continue the bullish scenario testing 0.8745 and 0.8860 region. We also have an ascending triangle formation which is a bullish pattern especially if price break above the triangle. On the downside, break below the triangle and 0.8550 region could be a serious threat to the bullish scenario and activate my wait and see mode.
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