The EURJPY attempted to push higher yesterday, topped at 134.96 but further bullish momentum was rejected as the pair whipsawed to the downside, bottomed at 132.97 and closed at 133.21. Earlier today in Asian session the pair was traded higher around 133.90 at the time I wrote this comment. I think we are still in no trading zone now. On h4 chart below we can see that the price might re-testing the trendline support. Immediate support is seen atÂ 132.97 (yesterday’s low). Break below that area should trigger further bearish pressure testing 131.40 area. Initial resistance at 135.35. CCI in neutral area on h4 chart.
The GBPJPY had another indecisive movement yesterday. The pair attempted to push higher, topped at 158.22 but closed lower at 156.90. Earlier today in Asian session the pair traded higher again around 157.80 at the time I wrote this comment. On h4 chart below we can see that the pair is struggling at the triangle’s upper line indicating intense battle between buyers and sellers. Immediate resistance is seen at 158.22 (yesterday’s high). Break above that area should trigger further bullish momentum targeting 159.50. Initial support at 156.90 area. CCI in neutral area on daily chart.
The AUDUSD attempted to push higher yesterday. The pair hit my long target at 0.8050, topped at 0.8053 but the bullish momentum was very limited as the pair closed lower at 0.7965. The bias is neutral in nearest term and I think we are in no trading zone now. On h4 chart below we can see that actually after hit 0.8261, the pair has been moving lower forming a descending triangle formation which is technically a bearish pattern with 0.7800 as key support level. Break below that area should change the medium term bullish outlook. Immediate resistance at 0.8053 (yesterday’s high). Break above that area should trigger further bullish momentum re-testing 0.8261 area. CCI in neutral area on daily chart.