The falling wedge formation gave us a valid warning about bullish scenario yesterday. I am expecting this bullish scenario continue today. The bias is bullish in nearest term targeting 135.70. Immediate support is seen at 133.80. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.
The GBPJPY bearish momentum was paused yesterday. The pair attempted to push lower, bottomed at 154.96 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 158.42 and closed at 157.52. On h4 chart below we can see that the price is now testing the bearish channel. Violation to the bearish channel should trigger further bullish scenario back towards 159.35 area. Immediate support is seen at 156.50. CCI in neutral area both on h4 and daily chart.
The AUDUSD didn’t make significant movement yesterday. The pair attempted to push higher, topped at 0.8052 but closed lower at 0.7980. I think we are still in no trading zone and it’s better to stay out from the market. On daily chart below we have triangle formation after bullish momentum indicating consolidation phase. Immediate resistance is seen at 0.8100. Break above that area should trigger further bullish scenario back towards 0.8260 area. Initial support at 0.7900. CCI in neutral area on daily chart.