The EURJPY made another indecisive movement yesterday. Price attempted to push lower, bottomed at 119.77 but whipsawed to the upside and closed higher at 120.93. On h4 chart below we can see that price made a false breakdown below the minor trendline support indicating potential upside momentum testing 121.70 area. The 119.70 area seems to be the nearest term bottom. The bias is bullish in nearest term but note that the major bearish scenario should remain intact. Immediate support at 120.50 area. Break below that area should trigger further bearish momentum re-testing 119.70 area.
The GBPJPY didn’t make significant movement yesterday indicating consolidation but the main trend should remain bearish. The bias is neutral in nearest term. On h4 chart below we can see that price still moving inside the minor bearish channel. A violation to the bearish channel should trigger further upside correction testing 134.70 area. Immediate support at 132.50 followed by 132,00 area. Break below 132.00 area should continue the bearish scenario targeting 128.80.
The AUDUSD attempted to push lower yesterday, bottomed at 0.8958 but whipsawed to the upside, closed at 0.9033. The bias is bullish in nearest term targeting 0.9140 area but we need a consistent move above 0.9040 area to continue the bullish momentum. Immediate support at 0.9000. Break below that area could be a serious threat to the bullish scenario and trigger further bearish pressure testing 0.8910 area.