The EURJPY had a moderate bullish momentum yesterday. On h4 chart below we can see that the bearish channel (red) has been violated to the upside indicating bearish failure while the bullish channel (blue) give us a bullish view. The bias is bullish in nearest term targeting 134.50 and 135.30 but we seem to have good resistance around 133.85 area. Break above that area should trigger further bullish momentum. Immediate support is seen at 133.40. Break below that area should lead us into no trading zone as the direction would become unclear.
The GBPJPY made indecisive movement yesterday. The pair attempted to push lower, bottomed at 151.32 but closed higher at 152.27. A look at h4 chart below reveals that the pair is actually in bullish correction phase, making a new bullish channel, struggling around 23.6 Fibo retracement of 163.05 â€“ 149.02. As long as the bullish channel hold, expect further bullish correction towards 154.35 (38.2% Fibo retracement of 163.05 â€“ 149.02). The bias is neutral in nearest term. Immediate support is seen at 151.15.
The AUDUSD continue it’s bullish momentum yesterday, topped at 0.8657 and closed at 0.8617. On h1 chart below we can see how triangles formation can be very useful to spot a bullish momentum every time the triangle made a breakout. We are no in triangle number 3, moving in bullish channel indicating potential bullish momentum if we have another triangle breakout targeting 0.8730 area. Immediate support at 0.8600 â€“ 0.8570. Break below that area should lead us into no trading zone.