The EURJPY continued its bearish momentum yesterday, bottomed at 108.11 and now testing 108.00. The bias remains bearish in nearest term especially if price able to make another break below 108.00 targeting 106.57. Immediate resistance is seen around 108.50. A clear break above that area could lead price to neutral zone in nearest term testing 109.45 but as long as price stays below the trend line resistance the major scenario remains to the downside.
The GBPJPY continued its bearish bias yesterday, bottomed at 123.50 and closed at 123.74. The bias is bearish in nearest term testing March’s low at 122.93. Immediate resistance is seen around 124.00. A clear break above that area could lead price to neutral zone in nearest term testing 124.85 but as long as price stays below the trend line the major scenario remains to the downside.
The AUDUSD continued its bearish intraday momentum yesterday, bottomed at 1.0508 and slipped below 1.0500 earlier today in Asian session. The bias remains bearish in nearest term testing 1.0460. A clear break and daily close below 1.0460 could trigger further bearish scenario testing 1.0300, which would open the door for another retest of the trend line support (white) and give further confirmation of the validity of my trend line resistance (red) for a longer term bearish correction scenario after hit all time high.
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