The EURJPY continued it’s bearish momentum yesterday, bottomed at 131.01 and closed at 131.52. On h4 chart below we still have a valid big bearish channel indicating bearish scenario. The bias remains bearish in both nearest and medium term targeting 129.60. However, CCI about to cross the -100 line up on h4 chart so watch out for potential upside rebound testing 131.90 or even 132.80 resistance area. Break above that area should lead us into no trading zone.
The GBPJPY made indecisive movement yesterday, formed a Doji on daily chart. On h4 chart below we still have a valid big bearish channel indicating bearish scenario targeting at least 147.13 area. The bias is neutral in nearest term but remains bearish in medium term. Immediate support at 149.02 area (yesterday’s low). Break below that area should trigger further bearish momentum targeting 147.13. Initial resistance at 150.90 area. Break above that area should lead us into no trading zone.
The AUDUSD was corrected higher yesterday, topped at 0.8372 and closed at 0.8335. On h4 chart below we can see that the pair actually still trapped in a range area of 0.8477 â€“ 0.8150 area. The bias is neutral in nearest term and I think we are in no trading zone now and it’s better to stay out from the market and wait for further development. Immediate support at 0.8261. Break below that area should trigger further bearish momentum testing 0.8150 area. Initial resistance at 0.8450/77 area. CCI in neutral area on both h4 and daily chart.