The EURJPY attempted to push higher yesterday, break above my first trendline resistance (blue), slipped above my second trendline resistance (red) but retreat to the downside. Like I said yesterday, only valid break above the second trendline resistance (red) should be considered as bearish scenario failure. The fact now show me that the break is a false breakout which potentially lead to a significant bearish pressure. The bias is bearish targeting 131.75 area. Immediate resistance at 133.59 area (yesterday’s high). Break above that area should be seen as bearish failure and the beginning of new bullish scenario.
The GBPJPY made a significant bullish correction yesterday. Like I said, any upside correction is normal after significant break below my trendline support (blue). Now, the fact that price retreat to the downside after fail to move above 148.50 resistance area could be seen as potential ending to the bullish correction momentum and price ready to continue the bearish movement targeting 146.30 before aim for 144.50/60 area. However, break above 148.50 should be seen as potential threat to my bearish outlook.
The AUDUSD made a significant technical move yesterday, violated my bearish channel indicating potential bearish failure but never really had a convincing bullish momentum so far. I think we have to be careful here and for me the bias remains neutral. Important support level to be watched today is 0.9180 area. Break below that area should trigger further bearish momentum. Initial resistance at 0.9276 (yesterday’s high). Break above that area should trigger further bullish momentum testing 0.9327 area.