As you can see on my h1 chart below, the EURJPY slipped below the lower line of range area indicating potential bearish view testing 114.50. However price made a minor upside correction earlier today in Asian session, traded around 116.40 at the time I wrote this comment. At the same time, CCI already in oversold area and heading up indicating some potential upside pullback. I think we have to be careful here because we know market is very tricky lately. Immediate support at 115.40. Break below that area could trigger further bearish momentum testing 114.50. Another movement back inside the range area could lead us into no trading zone as direction would become unclear, testing 118.70 region.
The GBPJPY made a significant bearish momentum yesterday, slipped below 135.70 indicating potential bearish view but made a minor upside retracement earlier today in Asian session testing 135.70. Technically, an upside pullback testing a resistance (former broken support) line is often happen, but if price move back above 135.70 may show limited bearishness and lead us back into no trading zone. Patient is what we need the most at this condition. Immediate support at 134.60 area. Break below that area should trigger further bearish momentum towards 133.12 before testing 129.89. Initial resistance at 136.50 followed by 137.30 region.
The AUDUSD slipped above the trendline resistance yesterday, but so far unable to move consistently above the trendline as price still struggling around the trendline. The bias is neutral in nearest term but this fact could potentially produced a false breakout scenario which usually trigger significant downside scenario where 0.8880 remains a bearish target. Immediate resistance at 0.9000. Consistent move above that area should trigger further upside pressure testing 0.9100 region.
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