The EURJPY continued its bearish bias yesterday after unable to make a break above 111.00 and now testing 109.45 key support area. The bias is bearish in nearest term especially if price able to make a clear break below 109.45 testing 108.50/00 region. Immediate resistance is seen around 110.00. A clear break above that area could lead price to neutral zone in nearest term testing 110.50 – 111.00 but as long as price stays below the trend line resistance the major scenario remains to the downside.
The GBPJPY was indecisive yesterday, but overall still able to maintain bearish bias and moving below 124.85 area. The bias is neutral in nearest term but still within a context of a major bearish scenario testing 124.00 and 122.93. Immediate resistance is seen around 124.85. A clear break back above that area could trigger further upside pullback testing 125.30 but as long as price moves below the trend line resistance the major scenario remains to the downside.
The AUDUSD was volatile but indecisive yesterday, but overall still able to maintain its bullish intraday bias despite of broad US Dollar strength. There are no changes in my technical outlook where price remains in a bullish intraday phase, targeting 1.0785. On the downside, key intraday support remains around 1.0600 and only a clear break below that area would stop my bullish intraday bias which has started after the strong rejection to move below the trend line support (white). A clear break above 1.0785 could trigger further bullish scenario retesting all time high 1.1079.
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