Published: 5 February 2026,06:51
Chart The Market
AUDJPY, H4:
The AUDJPY pair maintains a robust and well-defined uptrend trajectory, consistently finding support above its primary ascending trendline established since October. This bullish structure was recently reinforced by a decisive breakout above the critical resistance level at 108.50, confirming that underlying upward momentum remains solidly intact.
While the overall trend is bullish, momentum indicators present a nuanced near-term picture. The Relative Strength Index continues to hover near overbought territory, reflecting strong buying pressure but also increasing the risk of a temporary consolidation. The Moving Average Convergence Divergence indicator shows signs of a potential bullish crossover, which would support further gains, but its current position suggests the pair may be entering a phase of momentum rebalancing.
The key level to monitor is the recent breakout point at 108.50. A successful conversion of this former resistance into new support would be a classic bullish signal, indicating that the breakout is sustainable and that the pair is likely to continue its advance within the broader uptrend following any near-term pause.
Resistance Levels: 110.90, 111.95
Support Levels: 108.50, 107.20
EURUSD, H4
The EURUSD pair has sustained a key technical breakdown, violating its prior uptrend trajectory. This structural shift has brought the pair to a critical juncture, now testing the immediate support level at 1.1785. A decisive break below this level would provide strong confirmation of the newly established bearish bias, likely triggering an acceleration of the downtrend toward lower support zones.
The weakening price action is corroborated by bearish momentum indicators. The Relative Strength Index remains suppressed below its midpoint, indicating a persistent lack of bullish impetus. Concurrently, the Moving Average Convergence Divergence indicator continues to track below its zero line, confirming that bearish momentum is the dominant near-term force and aligns with the negative price structure.
The technical posture has shifted to bearish following the trendline break. The market is now at an inflection point, with the 1.1785 support level serving as the pivotal line. A sustained daily close below this threshold would solidify the bearish case and open a clear path for further declines. For the bearish outlook to be invalidated, the pair would need to stage a recovery back above the 1.1850 resistance, which would suggest the breakdown was a false signal and could reinstate a period of consolidation. The convergence of price and momentum evidence currently favors the downside scenario.
Resistance Levels: 1.1885, 1.1995
Support Levels:1.1685, 1.1584
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