Yesterday the EURJPY slipped above 125.15, topped at 125.45 but whipsawed to the downside and closed lower at 124.44. This fact lead us back into the range area of 125.15 – 124.00. The bias is neutral in nearest term. The bullish scenario remains intact as price still maintain bullish tone earlier today in Asian session, traded higher around 124.80 at the time I wrote this comment, but we need a consistent move above 125.15 to continue further bullish momentum targeting 126.96.
The GBPJPY had a significant bullish momentum yesterday, break above 139.34, topped at 140.53 and keep moving higher earlier today in Asian session around 140.40 at the time I wrote this comment. The bias is bullish in nearest term targeting 142.00 area and may test the major trendline resistance. Only a movement back below 139.34 could lead us back into no trading zone.
The AUDUSD failed to maintain its bullish momentum and traded lower earlier today in Asian session around 0.9160 at the time I wrote this comment. Price retreat back below the trendline indicating unclear direction as price forms a broadening formation. Expected range at 0.9090 – 0.9250. I prefer to stay away from this pair for now.
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