The EURJPY didn’t make significant movement yesterday. The bias remains neutral in nearest term and price still trapped in range area between 103.39 – 104.40 since November 11 and need a clear break from either side to see clearer direction. I still prefer a bearish intraday scenario at this phase and expect a clear break below 103.39 to continue the bearish pressure testing 102.00 – 100.74 area. On the upside, a clear break above 104.40 could trigger further upside pressure but only a clear break above 104.95 would stop the current bearish intraday outlook.
The GBPJPY was volatile but indecisive yesterday. The bias is neutral in nearest term but my overall intraday bias remains to the downside especially if price able to make a clear break and daily close below 120.00 testing 119.00 and the double bottom around 116.90. Immediate resistance is seen around 120.50. A clear break above that area could trigger further upside pullback testing 121.00/50 but only a clear break back above 122.62 could stop the current bearish intraday outlook, probably turn my intraday bias to a bullish mode.
The AUDUSD was indecisive yesterday, but fell below 0.9800 earlier today in Asian session hit 0.9755. The bias remains bearish in nearest term testing 0.9700 – 0.9620 area. Immediate resistance is seen around 0.9800. A clear break back above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 0.9925 my overall intraday bias remains strongly to the downside.
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