The EURJPY had significant technical movement yesterday. As you can see on my h4 chart below, price fell below the trendline support area indicating potential bearish scenario testing 131.70 area. However, we have upside rebound early today in Asian session as price struggle around the trendline area. CCI almost cross the -100 line up suggesting potential upside momentum. If price go back above the trendline area could be considered as a false breakdown which lead to significant upside momentum at least towards 133.50 and testing the trendline resistance (blue). Break above that trendline resistance should trigger further bullish momentum and keep the bullish scenario intact.
Patiently waiting. That is the best we can do for now. As you can see in my daily chart below, price still trapped between trendlines (triangle) indicating consolidation but I think break on either side should be imminent. Breakout to the upside should trigger further bullish momentum targeting at least 151.50 while a breakdown to the downside should trigger further bearish momentum at least targeting 148.24 and could be seen as potential downside reversal scenario.
The AUDUSD failed to continue its bullish momentum yesterday. On h4 chart below we can see that once again, price made a false breakout above 0.9327 before had a bearish momentum, bottomed at 0.9235 and closed at 0.9295. The way I see it, this fact could be seen as bullish exhaustion and could trigger significant downside pressure, even bearish reversal scenario especially if we have a break below 0.9180 area. I can see no clear direction now, so I will stay out from the market. On the downside, we have a support around the minor trendline support (blue). Break below that trendline should trigger further bearish momentum testing 0.9180 area.