The EURJPY had a moderate bullish momentum yesterday after failed to make a clear break below 104.95. The bias is neutral in nearest term with potential range between 104.95 – 106.50. A clear break below 104.95 could trigger further bearish pressure testing 103.75. On the other hand, a clear break back above 106.50 could trigger further bullish pressure testing 108.00.
The GBPJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term with potential range between 124.00 – 122.62. My double bottom bullish reversal scenario is still alive and kicking but a clear break below 122.62 could trigger further bearish pullback. On the upside, a clear break and daily close above 124.00 could trigger further bullish pressure testing 125.50 and keep the double bottom bullish scenario strong.
The AUDUSD was volatile but indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but as long as price stays below 1.0200 I still prefer a bearish intraday scenario at this phase testing 1.0000 – 0.9925 area. On the upside, a clear break and daily close back above 1.0200 would activate my wait and see mode as direction would become unclear but only a clear break and daily close back above 1.0440 would change my technical bias back to the upside.
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