The EURJPY had a bullish momentum yesterday, but still unable to break above my range. Although the bias is more to the upside in nearest term, we will need a clear break above 123.00 to cancel the bearish outlook targeting 124.00 area. On the downside, 121.50/00 area should remain a key support level at this phase. Break below that area should trigger further bearish pressure testing 120.60 even 119.70 region.
The GBPJPY failed to continue its bearish momentum yesterday. On h4 chart below we can see that the bearish channel has been violated to the upside indicating potential bearish failure and price is now struggling around the lower line of the bullish channel. A move back inside the bullish channel should confirm the bearish failure testing 139.34 area. Immediate support at 136.50 area. Break below that area could trigger further bearish momentum testing 135.50 area.
The AUDUSD slipped below the trendline support yesterday indicating potential bullish failure and bearish reversal. However, price still struggling around the trendline support and can not stay consistently below the trendline so far. We need a clear break below the trendline to confirm the bearish scenario targeting 0.8970 area. Immediate resistance at 0.9150. Break above that area could be seen as a false breakdown scenario which could trigger further upside momentum re-testing 0.9250 and keep the bullish scenario intact.
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