The EURJPY continued its bullish momentum yesterday after broad Euro strength triggered by the approval of Greece budget plan broke above 115.80 and now seems ready to test the trend line resistance as you can see on my h4 chart below which located around 117.00/20. A clear break above the trend line resistance could lead us to a new technical bullish outlook testing 123.31 in longer term view. Immediate support at 115.80 – 116.00. A clear break back below that area would lead us to neutral zone in nearest term but would keep price below the trend line resistance and keep the bearish scenario since the fall from 123.31 remains intact.
The GBPJPY continued its bullish intraday momentum yesterday and broke above the falling wedge as you can see on my hourly chart below suggests potential further bullish pressure testing 130.20 in nearest term. This fact gives us an early signal of bullish reversal scenario especially if price able to make a clear break above 130.20 testing 132.30 region. Immediate support around 129.00. A clear break back below that area would lead us to neutral zone in nearest term as direction would become unclear and activate my wait and see mode.
The AUDUSD continued its bullish momentum yesterday on broad US Dollar weakness triggered by Greece budget approval and hit 1.0576 earlier today in Asian session. This fact stops my bearish intraday outlook and the bias is bullish in nearest term testing 1.0650 since the rejection to break below 1.0388 strong support area. Immediate support at 1.0500. A clear break back below that area could trigger further bearish attempted retesting 1.0388 and keep the bearish scenario since the fall from 1.1010 remains strong.
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