The EURJPY had a significant bullish correction yesterday. On h4 chart below we can see that the bearish channel has been violated to the upside indicating serious threat to the major bearish scenario testing 114.50 in nearest term but the medium and long term view remains bearish. Another movement back inside the bearish channel could produce a false breakout scenario which could trigger significant bearish momentum re-testing 110.66 and keep the major bearish scenario intact.
The GBPJPY had a significant bullish momentum yesterday. On h1 chart below we can see price had a strong bullish momentum after breakout above 130.80 and now struggling around 132.80. We need a clear break above 132.80 area to continue further bullish momentum testing 134.80 area. Immediate support at 131.80 region. Break below that area could trigger further bearish pressure testing 130.80 region.
The AUDUSD had a significant bullish momentum yesterday, break above the range area convincingly with a huge bullish candle as you can see on my daily chart below. This fact should trigger further bullish scenario targeting 0.8716 region and only a move back below 0.8360 could be seen as bullish scenario failure. Immediate support at 0.8440 region. Break below that area could lead us into no trading zone in nearest term testing 0.8360 area. In medium term outlook we have potential range between 0.8360 – 0.8716.
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