The EURJPY had a significant bullish momentum earlier today in Asian session, break above 116.00 and hit 116.93. The bias is bullish in nearest term testing 117.20/60 resistance area. A clear break above that area could trigger further bullish scenario testing the trend line resistance as you can see on my h4 chart below. Immediate support at 116.00. A clear break below that area would lead us to neutral zone in nearest term as direction would become unclear but as long as price moves inside the bullish channel the overall intraday bias remains to the upside.
The GBPJPY didn’t make significant movement yesterday but had a strong bullish momentum earlier today in Asian session break above 134.00 and hit 134.51. This fact suggests further potential bullish scenario which started since the break above the trend line resistance (blue) testing 135.15 in nearest term. Above 135.15, 136.09 and 137.03 would be the next resistances to be tested by the current bullish intraday outlook. Immediate support at 134.00. A clear break below that area would lead us to neutral zone in nearest term and might lead us back to sideways condition even testing 132.61 as a false breakout scenario could be produced but overall I still prefer a bullish scenario at this phase.
The AUDUSD didn’t make significant movement yesterday. The bias remains bullish in nearest term after the violation to the trend line resistance as you can see on my daily chart below but I think we still need a clear break above 1.0770 to confirm the end of the bearish outlook and might lead us to a bullish outlook testing 1.0887 and 1.1010 even aim for new all time high projection. Immediate support at 1.0650/30. A clear break below that area would change the intraday bias to bearish testing 1.0500. Daily CCI is now testing 100 level suggests an upside pressure but need a move above 100 level to get us in bullish outlook.
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