The EURJPY had a moderate bearish momentum on Friday. The bias is neutral in nearest term but the outlook is more to the downside after the violation of the bullish channel indicating bullish failure. Expected range at 123.00 – 121.50. Break above 123.00 could trigger further bullish correction towards 124.00 while a break below 121.50 could trigger further bearish momentum targeting 120.60 area before aim for 119.70 key support level.
The GBPJPY had a significant bearish momentum on Friday as price violated the bullish channel indicating bullish failure and potential bearish scenario testing 133.90 area. CCI in oversold area and heading up on h4 chart suggesting potential upside correction but as long as price stay below 136.50 I still prefer a bearish scenario. Break above 136.50 area could trigger further bullish momentum but would lead us to no trading zone as direction would become unclear.
The AUDUSD had a bearish momentum on Friday, bottomed at 0.9128 and closed at 0.9152 after failed to move above 0.9250 resistance area. This fact could trigger further bearish correction towards 0.9040 especially if price able to stay below 0.9140 level today but as long as price move above the major trendline support the major bullish scenario remains intact. Immediate resistance at 0.9180. Break above that area should trigger further upside momentum testing 0.9250 area.