Daily Forecast for Crosses: April 25

By @ibtimes on

EURJPY Forecast

The EURJPY failed to continue its bearish momentum yesterday and now struggling around 107.45. The bias is bullish in nearest term but I need a consistent move and convincing daily close above 107.45 to reactivate my bullish mode testing 110.00 – 111.58 area. Immediate support is seen around 107.00. A clear break below that area could lead price to neutral zone in nearest term but would give the false breakout bearish scenario another chance testing 106.30 – 105.60 area.

GBPJPY  Forecast

The GBPJPY regained its bullish momentum yesterday, topped at 131.44 and hit 131.64 earlier today. The bias is bullish in nearest term especially if price able to make a clear break above 131.77 testing 132.50 – 133.50 area. Immediate support is seen around 131.00. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 130.00 I still prefer a bullish scenario at this phase.

AUDUSD Forecast

The AUDUSD attempted to push lower yesterday, bottomed at 1.0246 but whipsawed to the upside and closed higher at 1.0332. The bias is neutral in nearest term but as long as stays below 1.0400 – 1.0450 I remain bearish on this pair with sell on rallies strategy still testing 1.0200 as nearest target.

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