The EURJPY continued it’s bullish momentum yesterday. I think we are in critical phase now as price seems ready to challenge my major trendline resistance. Break above the trendline should be seen as the end of the bearish outlook and a beginning of bullish scenario. The bias is bullish in nearest term. Immediate support at 132.50 area. Initial resistance at 133.87. Break above that area should trigger further bullish momentum towards 134.66.
The GBPJPY had a bullish momentum yesterday. On h4 chart below we can see that the price now convincingly move above the trendline. Although the bullish pressure seems limited so far and price already made false trendline breakout it’s clear that bearish power has started to lose some momentum. My key level for today is 143.20 area. Break above that area should trigger further bullish momentum targeting 144.50 and put my bearish outlook to it’s end.
The AUDUSD made indecisive movement yesterday. On h4 chart below we can see that the pair slipped above 0.9090, topped at 0.9124 but failed to stay consistently above 0.9090, traded around 0.9066 at the time I wrote this comment. For me this is a false breakout which potentially trigger some downside retracement towards 0.9000 area but short position is not recommended at this phase. I am expecting another breakout above 0.9090 targeting 0.9180 area.