The EURJPY was able to maintain its bearish bias yesterday, although the bearish momentum was not as strong as I had expected and still unable to break below 99.23 support area so far. The bias remains bearish in nearest term especially if price able to make a clear break and daily close below 99.23 testing 98.00 – 97.00 region. Immediate resistance remains around 100.30. A clear break above that area could lead price to neutral zone in nearest term testing 101.00. As you can see on my daily chart below we have a CCI bullish divergence as a warning of potential bullish correction but as long as stays below 101.00 my overall technical outlook remains strongly bearish and I still prefer to sell on rallies.
The GBPJPY was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term but overall I still prefer to sell on rallies still testing 123.25 support area. Immediate resistance remains around 125.06. A clear break above that area could trigger further bullish pullback but only a clear break and daily close at least above 126.00 could interrupt the bearish outlook.
The AUDUSD attempted to push higher yesterday, topped at 0.9887 but closed lower at 0.9815. The bias is neutral in nearest term. As you can see on my daily chart below we have a CCI bullish divergence suggests potential bullish pullback but overall I still prefer a bearish scenario with sell on rallies strategy. Immediate support remains around 0.9745. A clear break and daily close below that area could continue the bearish scenario testing 0.9662 0r lower. On the upside, a clear break and daily close above 0.9910 will interrupt the current short term strong bearish trend.
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