EURJPY Forecast

The EURJPY continued it’s bearish momentum yesterday. The pair hit my short target at 136.00 even lower, bottomed at 135.24 and closed at 135.80. On h4 chart below we can see that the trendline support has been violated to the downside indicating bullish failure and potential bearish scenario. The bias remains bearish in nearest term targeting 134.50. However, CCI in oversold area and heading don on h4 chart so watch out for potential upside rebound testing 136.50 area. Break above that area should lead us into no trading zone. After violated the trendline support to the downside, I will not surprised if the price make a pullback to the upside around the trendline area but long position is not recommended at this phase.

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GBPJPY Forecast

The GBPJPY continued it’s bearish momentum yesterday, bottomed at 157.81 and closed at 158.07. On 4h chart below we can see that the price made breakdown from the broadening formation, but retreat back inside the formation. The bias remains bearish in nearest term. However, we seem to have good support around 157.80 area. Now that the price is back inside the broadening formation and CCI about to cross the -100 line up on h4 chart, watch out for potential upside pullback testing 160.00 area. Break below 157.80 would be a bearish medium term  confirmation for me towards 153.00 area.

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AUDUSD Forecast

The AUDUSD had a significant bearish momentum yesterday, bottomed at 0.8274 and closed at 0.8288. The pair is in critical phase now, where bearish momentum seems ready to challenge 0.8261 key level in nearest term. As long as 0.8261 support area hold the bullish medium term remains intact, but as you can see on h4 chart below, the fact that the trendline support has been violated to the downside should be considered as potential threat to the medium bullish outlook. CCI in oversold area and heading up on h4 chart suggesting potential upside pressure testing 0.8350 resistance area.

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