Daily Forecast for Crosses: April 22

By @ibtimes on

EURJPY Forecast

The EURJPY was unable to maintain its bullish momentum yesterday and now traded below 119.30 support area after unable to make a break above 120.38. The bias is bearish in nearest term testing 118.00. On the upside, another move above 119.30 would lead us to neutral zone in nearest term and only a clear break above 120.38 would change the intraday bias to bullish testing 121.40. Today some markets are closed on Good Friday.

GBPJPY  Forecast

The GBPJPY made another indecisive movement yesterday, made another Doji on daily chart and still struggling around 135.00 area. There are no changes in my daily technical outlook. The bias remains neutral in nearest term. CCI still moves below zero level on daily chart suggests more bearish intraday bias but need a movement below -100 to continue the bearish pressure testing 132.50. Immediate support to be tested is around 133.75/50. A clear break below that area would trigger further bearish pressure testing 132.50 even lower. The overall technical bias remains to the downside but a strong Yen appreciation could trigger another intervention to weaken the Yen. Immediate resistance at 135.80. A clear break above that area would change the intraday bias to bullish testing 137.00 resistance area. Today some markets are closed on Good Friday.

AUDUSD Forecast

The AUDUSD was able to maintain its bullish bias yesterday although the bullish momentum is not as strong as what happened on Wednesday. The bias remains bullish in nearest term still testing 1.0850 – 1.0900 new historical high projection. Immediate support at 1.0700. A clear break below that area would change the intraday bias to bearish testing 1.0600 but overall the technical bias remains strongly to the upside. Today some markets are closed on Good Friday.

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