The EURJPY made another indecisive movement yesterday. The bullish power still unable to move consistently above the trendline resistance (red) indicating limited bullish so far. The bias is neutral in nearest term. We need a consistent move above the trendline resistance and 113.36 area to continue the bullish correction testing 114.15 and 115.50 area. On the other hand, break below the trendline support (white) and 111.70 support area could be a serious threat to the upside correction scenario and price may resume its major bearish trend re-testing 108.00 – 109.00 area.
The GBPJPY was indecisive yesterday. The bias is neutral in nearest term. The bullish correction scenario remains intact but need a consistent move above 136.24 to continue bullish momentum testing 138.20. On the downside, support is seen around the lower line of the bullish channel and 133.20 area. Consistent move below that area could be a serious threat to the bullish correction scenario and price may resume its major bearish trend testing 130.50 before re-testing 126.75 region.
The AUDUSD had a moderate bullish momentum yesterday. On h4 chart below we can see that price is moving above the trendline resistance indicating potential bullish view testing 0.8745. Downside risk indicated by CCI divergence. Another movement back below the trendline resistance could trigger further downside pullback testing 0.8550 region.
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