The EURJPY made another indecisive movement on Friday, formed another Doji on daily chart. The bias is neutral in nearest term. On daily chart below we can see that price is moving in a triangle formation indicating consolidation phase after significant bearish rally. Potential range for today at 109.50 – 111.70 area. Break below 109.50 could trigger further bearish pressure and keep the major bearish intact while a break above 111.70 could trigger further upside pressure testing the upper line of the triangle.
The GBPJPY was able to maintain its bullish bias in Friday. I have made some adjustment to the bullish channel as a result of the newest development in the market. The bias is bullish in nearest term testing 136.20 region. Break above that area could trigger further upside scenario testing 138.00 region. On the downside, immediate support at 133.10 and the lower line of the bullish channel. Only consistent move below that area could be a serious threat to the current bullish correction outlook.
The AUDUSD had a moderate bullish momentum on Friday. On h4 chart below we can see that price violated the minor trendline resistance (red) indicating potential upside scenario testing 0.8950 in nearest term. Immediate support at 0.8700 region. Break below that area could lead us into neutral zone in nearest term testing 0.8600 region but the main scenario remains to the upside.
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