The EURJPY continued its bullish momentum yesterday after found a good support around the lower line of the bullish channel as you can see on my daily chart below, keeps the major bullish scenario remains intact. The bias is bullish in nearest term testing 101.60 – 102.00 region. Immediate support is seen around 100.50. A clear break below that area could lead price to neutral zone in nearest term but as long as moving inside the bullish channel and above 99.50 I still prefer to buy on dips.
The GBPJPY had another indecisive movement yesterday but overall still able to maintain its bullish intraday bias, still making higher lows and highs since the failure to make a clear break below 125.50 key intraday support area. The bias is neutral in nearest term. Overall I still prefer a bullish scenario at this phase as a part of the bullish scenario after break above the bearish channel and only a clear break below the trend line support (white) and 123.75 could be a serious threat to the bullish outlook. Potential range is seen between 125.30 – 127.00.
The AUDUSD had a strong bearish momentum yesterday and hit 1.0210 earlier today. The bias is bearish in nearest term testing 1.0170 key support area. However note that from a medium term perspective, price is still trapped between 1.0610 – 1.0170. Indicators are in oversold area suggests a potential bullish pullback but overall my long term technical outlook remains to the downside after price broke below the bullish channel.
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