The EURJPY failed to continue it’s bullish momentum yesterday and now back below my trendline (blue) indicating bearish view. Technically the bias is bearish in nearest term targeting at least 131.70 area. The trendline area should remain my technical focus at this phase as a movement above it once again should leave us back in no trading zone area as direction would become unclear for me. Like I said yesterday, we have some important fundamental numbers this week so any technical failures shouldn’t be a big surprise. We have to be careful and only trade with tight money management at this phase. Eyes on FOMC today.
The GBPJPY made indecisive movement yesterday, formed a Doji on daily chart. On my daily chart below we can see that my trendline support (blue) still provide good support preventing further bearish attack. I think we are still in no trading zone area and need a break from the trendlines to see clearer direction. Immediate resistance at 148.90. Break above that area should trigger further bullish momentum testing the trendline resistance (red). Initial support at 146.36. Break below that area should confirm my bearish scenario targeting 144.50 area. Eyes on FOMC today.
The AUDUSD had a volatile but indecisive movement yesterday. On my h4 chart below we can see that the trendline resistance (blue) and 0.9090 area provide good resistance preventing bullish attack. As long as the pair stay below that area, I still prefer a bearish scenario targeting 0.8860, but before that, we need a valid break below 0.8950 support area. Today the FOMC is going to announce the interest rate. While it’s more likely that they will leave funds rate unchanged at