The EURJPY didn’t make a significant movement yesterday, indicating that the pair is still consolidate. I still prefer a bullish scenario with 136.88 and 138.67 area as potential bullish targets. Immediate support around 134.70/50 area. Break below that area should lead us into no trading zone but short position is not recommended.
We have volatile market yesterday. Price break below my support level 148.00, bottomed at 147.07 but closed higher at 148.88, a case of a false breakdown, which usually trigger significant bullish momentum. The bias is neutral in nearest term and I don’t like high volatile market since for me volatile market indicating unclear direction, so I think I will stay out for now and wait for further development today. I still prefer bullish scenario and short position is not recommended at this phase. Immediate support at 148.00 followed 147.07. Initial resistance (potential target) at 150.35.
The AUDUSD had a significant bullish momentum yesterday. On h4 chart below we can see that the pair has made a breakout above range area indicating potential bullish continuation. The bias is bullish in nearest term targeting 0.9350 before aim for 0.9540 area. Immediate support at 0.9270. Break below that area should lead us into no trading zone but short position is nor recommended and the mode remains strongly bullish.