The EURJPY continued its bearish momentum on Friday, bottomed at 108.84 and hit 108.63 earlier today in Asian session. The bias remains bearish in nearest term testing 106.57. Immediate resistance is seen around 109.45 (former support). A clear break back above that area could lead price to neutral zone in nearest term but as long as price moves below the trend line resistance (white) I still prefer a bearish scenario at this phase.
The GBPJPY made another indecisive movement on Friday. The bias remains neutral in nearest term but as long as price stays below 124.85 my overall intraday bias remains more to the downside. A clear break back above 124.85 could trigger further bullish pullback testing the trend line resistance, but as long as price moves below the trend line resistance the major bearish scenario should remain intact testing 122.93 especially if price able to make a clear break below 124.00.
The AUDUSD failed to continue its bullish intraday bias on Friday and now struggling around 1.0600. The bias is bearish in nearest term especially if price able to make a clear break below 1.0600 testing 1.0500 – 1.0460 area. The bullish scenario since the rejection to make a clear break below the trend line support (white) remains intact, but we could have a proper trend line resistance (red) after the fall from the all time high 1.1079 which may create a wide consolidation condition. Immediate resistance is seen around 1.0630 area. A clear break back above that area could lead price to a neutral zone in nearest term but only a clear break above the trend line resistance (red) and 1.0700 could trigger further bullish momentum retesting 1.0785 even give another chance for making a new all time high. Daily CCI in a neutral zone, crossed below 100 level suggest potential bullish exhaustion and bearish pullback
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