The EURJPY attempted to push higher on Friday, topped at 104.28 but closed a little bit lower at 103.96. The bias is neutral in nearest term and price has been moving sideways between 104.20/40 – 103.39 since Wednesday and need a clear break from the range area to see clearer direction. As long as stays below 104.95 I still prefer a bearish intraday scenario at this phase and expect a clear break below 103.39 targeting 102.20 – 100.74. On the upside, a clear break above 104.40 could trigger further bullish pressure testing 104.95 key resistance area.
The GBPJPY had a moderate bullish momentum on Friday. The bias is neutral in nearest term with potential daily range to be watched between 122.62 – 120.50 but still with more bearish bias. A clear break and daily close below 120.50 could trigger further bearish pressure testing 119.00 even testing the double bottom around 116.90. On the upside, a clear break and daily close above 122.62 would stop the current bearish intraday bias and keep the double bottom bullish reversal scenario strong, testing 125.50 area.
The AUDUSD attempted to push higher on Friday, topped at 1.0106, but whipsawed to the downside, closed at 1.0006 and hit 0.9942 earlier today in Asian session. The bias remains bearish in nearest term testing 0.9925. A clear break and daily close below that area could trigger further bearish continuation testing 0.9800 region. Immediate resistance is seen around 1.0000. A clear break above that area would lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 1.0200 I still prefer to short on rallies.
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