The EURJPY attempted to push higher yesterday, topped at 121.72 but closed lower at 121.13. The bias is neutral in nearest term and I think we are in no trading zone area as price still consolidating inside the triangle formation but we may soon see a break from the triangle and find clearer direction. I prefer a bearish scenario since the main trend remains bearish, but the double bottom formation around 119.70 area could potentially produce a bullish reversal especially if price break above the triangle at least targeting 123.00.
The GBPJPY made another insignificant movement yesterday. On h4 chart below we can see that price already move outside the bearish channel but no significant bullish momentum so far. The bias remains neutral in nearest term and I think we are in no trading zone area but I think the main trend should remain bearish. Expected range at 132.00 – 134.70.
The AUDUSD didn’t make significant movement yesterday. The bias is neutral in nearest term but as long as price able to stay above 0.9040 area, the bullish scenario targeting 0.9140 should remain intact. We have CCI divergence as you can see on my h4 chart below indicating potential bearish outlook. I prefer to stay away from this pair for now as I have a conflicting technical view. Immediate support at 0.9000. Break below that area should trigger further bearish momentum testing 0.8910 area.