The EURJPY attempted to push lower yesterday, bottomed at 123.01 but closed higher at 123.79. On h4 chart below we have a significant technical movement as the trendline resistance has been violated to the upside indicating a serious threat to the bearish scenario after bullish reversal warning showed by the double bottom formation. The bias is bullish in nearest term targeting 125.15 area. Immediate support at 123.00. Break below that area and a movement back below the trendline should be seen as a false breakout scenario thus trigger significant bearish momentum testing 121.70 area.
The GBPJPY had a moderate bullish momentum yesterday, but on h4 chart below we can see that there is a significant technical movement as the trendline resistance has been violated to the upside indicating a potential threat to the current bearish scenario and new bullish phase in medium term, but the long term outlook remains bearish. The bias is bullish in nearest term targeting 138.30 area. Immediate support at 136.10 – 135.70 area. Break below that area should lead us into no trading zone but potentially produce a false breakout scenario which could trigger significant bearish momentum testing 133.91 region.
The AUDUSD was indecisive yesterday, formed a Doji on daily chart. The bias is neutral in nearest term but the bullish scenario remains intact. Price seems to consolidate after bullish running from 0.8982. In order to continue the bullish momentum, price has to be able to break above the minor trendline resistance (third white trendline, see the h1 chart below) targeting 0.9250 before aim for 0.9326 area. Immediate support at 0.9100. Break below that area should lead us into no trading zone but only a movement below 0.9040 could be seen as serious threat to the bullish scenario.