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EURJPY Forecast
The EURJPY made another insignificant movement yesterday. On h1 chart below we can see price is moving inside a triangle formation indicating consolidation. Break above the triangle could trigger further upside momentum testing 170.50 while break below the triangle could continue the bearish scenario re-testing 105.43 region and keep the major bearish scenario remains strong.
GBPJPY Forecast
The GBPJPY didn’t make significant movement so far, but as you can see on my h4 chart below price is now testing the upper line of the falling wedge formation. Break above the formation could trigger further upside pressure testing 131.00 before testing the upper line of the major bearish channel. Immediate support at 128.56 (yesterday’s low) followed by 128.00 region. Overall, as long as price move inside the bearish channel the main scenario remains bearish.
AUDUSD Forecast
The AUDUSD unable to move consistently above 0.9220 area so far. The major scenario remains bullish but a movement below 0.9220 could trigger further bearish correction testing 0.9160, but only a break below 0.9040 and a violation the the bullish channel could be a serious threat to the current bullish outlook. On the upside, consistent move above 0.9220 could trigger further upside momentum targeting 0.9324 – 0.9381.
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