Finally, my bearish outlook is over now. On h4 chart below we can see that the major trendline resistance (red) has been violated to the upside and I am on a bullish mode targeting 136.87 before aim for 138.69. Immediate support at 135.00 – 134.70 area. Break below that area could trigger further bearish correction but short position is not recommended at this phase.
The GBPJPY had a huge bullish momentum yesterday, topped at 147.56 and closed at 147.23. What come into my attention is, as you can see on my h4 chart below, how my horizontal line resistance provided 3 good breakout trades and now we are ready for another breakout trade targeting 150.35 area. Immediate support at 148.00 area. Break below that area should lead us into no trading zone but surely bullish scenario still in control and short position is not recommended at this phase.
The AUDUSD continued to enjoy it’s bullish momentum yesterday. As I already told you, breakout trading is the best strategy for this pair. On my h4 chart below we can see that the pair now has made another breakout indicating potential bullish momentum targeting 0.9300/50 area. Immediate support at 0.9226. Break below that area could trigger further downside correction but short position is not recommended at this phase. We are in a buy mode.