EURJPY Forecast

The EURJPY was corrected lower yesterday bottomed at 120.74 but had a bullish momentum earlier today in Asian session slipped above 122.59. The bias is bullish in nearest term but need a clear break above 122.59 to continue the bullish scenario testing 125.44 and 127.90. On h1 chart below we can see price is moving in range area of 120.75 – 122.59 indicates consolidation after bullish run. I think the upside breakout is imminent. Immediate support at 122.00. A clear break below that area could lead us to another bearish consolidation retesting 120.75 but overall I still prefer a bullish scenario at this phase.

GBPJPY  Forecast

The GBPJPY had a bearish momentum yesterday, slipped below 138.10 but bounced to the upside and hit 139.63 earlier today in Asian session. On h1 chart below we can see price is moving in range area of 139.67 – 138.10 indicates consolidation after bullish run. I believe upside breakout is imminent testing 142.00 and 145.95. Immediate support at 139.00. A clear break below that area would lead us to neutral zone in nearest term retesting 138.10 but overall I still prefer a bullish scenario at this phase.

AUDUSD Forecast

The AUDUSD continued its bullish momentum earlier today in Asian session, made another new all time high at 1.0537. The bias remains bullish in nearest term testing new all time high projection around 1.0600 – 1.0650. Immediate support at 1.0480. A clear break below that area would lead us to neutral zone in nearest term testing 1.0445 but overall the bullish outlook remains strong and I still prefer a bullish scenario at this phase.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.