The EURJPY had a bullish momentum yesterday, topped at 113.55 and closed at 113.42. The bias is bullish in nearest term targeting 114.00 but note that overall price still trapped in the range area and 114.00 could remain a strong resistance that need to be clearly broken to the upside to confirm the bullish continuation scenario targeting 114.90 and 115.65 even higher. Immediate support at 113.15. A clear break below that area would lead us to neutral zone in nearest term testing 112.50 – 112.08 support area and would keep price a little bit longer in this sideways condition.
The GBPJPY failed to continue its bearish pressure yesterday and bounced higher hit 133.68 earlier today. The bias is neutral in nearest term with potential daily range to be watched between 134.20 – 132.50. While we need a clear break on either side to see clearer direction, aggressive intraday traders can short around 134.20 or long around 132.50 with a tight stop loss. A clear break above 134.20 would trigger further upside pressure testing 135.50 while a clear break below 132.50 would trigger further bearish pressure testing 131.00 – 130.50.
The AUDUSD failed to continue its bearish correction yesterday and now back above the trend line resistance (white) as you can see on my h4 chart below. The bias is bullish in nearest term still targeting 1.0256 key resistance area/all time high. Any all time high level could be a very strong resistance so although the pressure remains strongly to the upside, a short position near 1.0256 with tight stop loss is acceptable for me. Above 1.0256, new all time high projection could be seen around 1.0400 – 1.0500. Immediate support at 1.0140. A clear break below that area would lead us to neutral zone in nearest term testing 1.0070/50 support area.
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