The EURJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term and I am still in no trading zone for this pair with expected range at 121.50/00 – 123.00 as direction still unclear, but the major outlook after fell from the double top at 123.15/20 area remains bearish. Break below 121.50/00 could trigger further bearish momentum re-testing 119.70 key support area.
The GBPJPY also indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but as you can see on my h4 chart below, after violated the bullish channel price is now still able to move inside the new bearish channel indicating potential bearish outlook. Immediate resistance at 136.50. Break above that area could trigger further bullish momentum testing 137.30 region and could be a serious threat to the bearish outlook. Initial support at 135.00. Break below that area should keep the bearish scenario intact testing 133.90 even 132.50/00 key support level.
The AUDUSD attempted to push lower yesterday, bottomed at 0.9134 but closed higher at 0.9185. The main bullish scenario remains intact and but we are still consolidating between 0.9250 – 0.9090 area. We need a clear break on either side to see clearer direction, whether price will continue its bullish scenario at least towards 0.9326 – 0.9404 area or break below the trendline support which can be a new beginning of a bearish reversal scenario.
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