As you can see on h4 chart below, the EURJPY failed to continue its bullish momentum yesterday after rejection to move consistently above the trendline resistance. This fact could produce a false breakout scenario which not only could trigger bearish momentum towards 121.70 area but also a potential threat to the bullish correction scenario. Immediate resistance at 123.50. Break above that area could trigger further upside pressure re-testing the trendline resistance. Clear break above the trendline resistance should trigger further bullish scenario targeting 123.15 region.
The GBPJPY failed to continue its bullish correction momentum yesterday after found resistance at the trendline, as you can see on my h4 chart below. This fact not only keep the major bearish scenario intact but could put the bullish correction scenario to its end targeting 134.70 before re-testing 132.00 area. Immediate resistance at 136.50. Break above that area and a violation to the trendline resistance could lead us into a new bullish phase in medium term.
The AUDUSD didn’t make significant movement yesterday. The bias is neutral in nearest term and technical levels to be watched today is 0.9140 and 0.9040. Break on either side can give us a clearer direction towards 0.9326 area or testing the trendline support and 0.8910 area. As long as price stay above the trendline support, the bullish scenario should remain intact.