The EURJPY had a bullish momentum yesterday, slipped above 108.00 but still unable to stay consistently above that area so far. The bias is bullish in nearest term especially if price able to make a clear break above 108.00/15 testing 109.23 (Tuesday’s high). Immediate support is seen around 107.00 – 106.50. A clear break below 106.50 could trigger further bearish pressure and postpone the major bullish reversal outlook, testing 104.95 area.
The GBPJPY had a bullish momentum yesterday after failed to make a clear break below 124.00 as you can see on my daily chart below. The bias is bullish in nearest term especially if price able to make a clear break above 125.50 testing 126.79 – 127.28 area. Immediate support remains around 124.00. A clear break and daily close below that area could trigger further bearish pressure testing 122.62 and postpone the double bottom bullish reversal scenario.
The AUDUSD failed to continue its bearish momentum yesterday and now struggling around 1.0400. The bias is neutral in nearest term. I still prefer a bearish intraday scenario at this phase since the bearish momentum after failed to test 1.0800 this week but a clear break and daily close above 1.0400/50 could turn my intraday bias back to a bullish view. I will stand aside for now and wait for further development. Immediate support is seen around 1.0350. A clear break below that area could trigger further bearish pressure testing 1.0300 – 1.0200 area.
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