The EURJPY continued its bearish momentum yesterday, broke below 99.23 and hit 98.93. The bias remains bearish in nearest term testing 98.00 – 97.00 area. Immediate resistance is seen around 99.50. A clear break above that area could lead price to neutral zone in nearest term testing 100.00 but as long as stays below 101.00 my overall intraday bias remains strongly to the downside and I still prefer to sell on rallies.
The GBPJPY was indecisive yesterday but overall still able to maintain its bearish bias and hit a fresh low at 123.88. The bias is bearish in nearest term testing 123.25 as a part of the bearish scenario after broke below the triangle. Immediate resistance is seen around 124.50. A clear break back above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 125.50 I still prefer to sell on rallies.
The AUDUSD had another upside attempted yesterday, topped at 0.9896 but again, whipsawed to the downside and hit 0.9775 earlier today. The bias is bearish in nearest term testing 0.9662. On the upside, only a clear break above 0.9910 could interrupt the current short term strong bearish outlook.
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