The EURJPY continued it’s bullish momentum yesterday. I am expecting the “Flag” bullish momentum has enough power to push us higher to hit my 138.67 today. CCI in overbought area and heading down on h4 chart so watch out for potential downside rebound testing 136.90 area as we might see some weekend profit taking today. Break below that area should lead us into no trading zone but short position is not recommended.
The GBPJPY was corrected lower yesterday, bottomed at 150.55 but further downside correction was rejected as the pair closed higher at 151.71. I think the correction is over at this phase and we are ready to continue the bullish momentum targeting 153.20 area. Immediate support at 151.50 area. Break below that area should lead us into no trading zone but I still prefer a bullish scenario so short position is not recommended.
The AUDUSD made another indecisive movement yesterday. The pair slipped below my bullish channel but further downside correction was rejected as the pair now back struggling to get back inside the bullish channel and above 0.9270 area. If the price able to get inside the bullish channel, then this is a false breakdown which usually lead to significant bullish momentum. In the current strong bullish condition, the false breakdown scenario would be a perfect tool to place a long trade plan today targeting 0.9350 before aim for 0.9500. Short position is not recommended.