EURJPY Forecast

The EURJPY continued its bullish momentum yesterday, hit 107.09 earlier today but traded lower around 106.69 at the time I wrote this comment. The bias remains neutral in nearest term but unless we have a clear break and daily close back above 107.45 my nearest term bias remains to the downside. A clear break and daily close above 107.45 could trigger further bullish momentum testing 108.30/50 region. Immediate support is seen around 106.50. A clear break below that area could trigger further bearish pressure retesting 105.60.

GBPJPY  Forecast

The GBPJPY didn’t make significant movement yesterday. The bias is neutral in nearest term but as long as stays below 130.00, price is still in a bearish correction phase. Immediate support is seen around 128.80. A clear break below that area could trigger further bearish pressure testing 127.85. A clear break and daily close below 127.85 could trigger further bearish scenario testing 126.70 – 125.50 area.

AUDUSD Forecast

The AUDUSD continued its bullish momentum yesterday, topped at 1.0448 and now struggling around 1.0400. The bias remains bullish in nearest term especially if price able to break above 1.0464 testing 1.0600 area but overall I remain bearish on this pair. Immediate support is seen around 1.0350. A clear break below that area could trigger further bearish pressure testing 1.0300 and keep the bearish scenario remains strong targeting 1.0200 or lower.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.