The EURJPY attempted to push lower yesterday, bottomed at 121.06 but whipsawed to the upside and closed higher at 122.20. This fact lead me to a no trading zone condition with expected range at 121.50/00 – 123.00 as direction is unclear for me. A breakout could trigger further bullish momentum testing 124.00 while a breakdown could trigger further bearish momentum testing 120.60 region.
The GBPJPY attempted to push lower yesterday, bottomed at 134.55 but closed higher at 136.07. The bias is neutral in nearest term. Technically, a retreat to the upside after violation to the bullish channel often happen in the market but unless price go back inside the bullish channel, the bearish scenario remains intact. Immediate resistance at 137.00. Break above that area could be s serious threat to the bearish scenario. Initial support at 135.60 area. Break below that area should keep the bearish scenario intact testing 133.90 region.
The AUDUSD attempted to push higher yesterday, bottomed at 0.9084 but whipsawed to the upside and closed at 0.9182. This fact should keep the bullish scenario intact testing 0.9250 before aim for 0.9326 region. Initial support at 0.9090/40 area. Break below that area and a movement below the major trendline support could be seen as potential bullish failure and a new bearish phase.