The EURJPY was volatile but indecisive yesterday. Price attempted to push lower bottomed at 113.80 but found a good intraday support around the minor trend line support (red) as you can see on my h4 chart below and closed higher at 114.78. The bias remains neutral in nearest term. Overall my technical outlook remains to the downside but as long as 113.40 key support hold price is still in a consolidation phase. Immediate resistance at 115.00. A clear break above that area could trigger further bullish pullback testing 115.80 – 116.00 resistance area. Immediate support at 114.50. A clear break back below that area could trigger further bearish attempt testing 114.00 – 113.40.
The GBPJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but as long as price stays below 130.20 my overall intraday bias remains strongly to the downside still targeting 127.77 and 125.95. CCI is in neutral area on hourly chart but moves above the zero level so watch out for potential upside pullback. Immediate resistance at 129.50 followed by 130.20.
The AUDUSD was volatile but indecisive yesterday. Price attempted to push lower, slipped below 1.0500, bottomed at 1.0454 but closed higher back above 1.0500. The bias is neutral in nearest term and the fact that price is still unable to move consistently below 1.0500 forces me to maintain the sideways outlook. I still prefer a bearish scenario at this phase but still need a clear break below 1.0500 to continue the bearish scenario targeting 1.0388 – 1.0200. Immediate resistance at 1.0575 followed by 1.0650.
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