The EURJPY attempted to push lower yesterday, but whipsawed to the upside and hit 116.67 earlier today in Asian session after found a support around the upper line of the bearish channel as you can see on my h4 chart below. This fact keeps the bullish scenario which started by the break above the bearish channel intact, testing 116.88 – 117.58 area. Immediate support at 116.00 – 115.80. A clear break below that area would lead us to neutral zone in nearest term as direction would become unclear testing 115.20/00 support area.
The GBPJPY attempted to push lower yesterday, bottomed at 130.75 but whipsawed to the upside and closed higher at 132.02 on broad Yen strength. The bias is neutral in nearest term. On h4 chart below we can see price seems ready to test the trend line resistance so although my bearish scenario remains intact and price overall still making new lower highs, a clear break above the trend line resistance and 132.50 could trigger further bullish momentum testing 132.97/16 resistance area and would be a threat to the bearish outlook. Immediate support at 131.50. A clear break below that area would change the intraday bias back to bearish retesting 130.20 key support area.
The AUDUSD was indecisive yesterday, formed a Doji formation on daily chart. Price attempted to push lower but further bearish pressure was rejected after found a support around 1.0570 and hit 1.0679 earlier today in Asian session. This fact keeps the bullish intraday outlook intact testing 1.0700/70. Aggressive intraday traders can still activate their bullish intraday outlook but I also still interested in shorting around the trend line resistance and 1.0770 due to a good risk – reward ratio. Immediate support remains around 1.0600 – 1.0570. A clear break below that area would change the intraday bias to bearish retesting 1.0500 support area.
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