The EURJPY resume its bearish scenario yesterday, but still unable to move convincingly below 110.66 so far. We need a clear break below that level to resume the major downtrend scenario at least testing 109.53 area before targeting 106.00 region. Immediate resistance at 112.60. Break above that area could trigger further upside correction and keep us in range area of 114.50 – 110.66.
The GBPJPY was indecisive yesterday. On h1 chart below we can see that price still trapped in range area of 130.80 – 128.00. The nearest bias is more to the downside testing 128.00 region but overall price is still in consolidation phases after significant bearish movement. We need a clear break below 128.00 could resume the major bearish scenario testing 126.75 region. On the other hand, a break above 130.80 could trigger further upside correction testing 132.80 region.
The AUDUSD didn’t make significant movement yesterday but still in the context of a major bearish scenario. Although the nearest bias is more to the downside re-testing 0.8070 especially if price able to move consistently below 0.8185 area, a high volatile market is still likely. Another movement back above 0.8250 should lead us into no trading zone as nearest bias is unclear but could trigger further upside momentum testing 0.8360 area again.
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