EURJPY Forecast

The EURJPY had a bullish momentum yesterday, topped at 111.02 and closed at 110.89. The bias is bullish in nearest term especially if price able to make another break above 111.25 testing the trend line resistance and 112.90 – 113.40 region. However note that as long as price stays below the trend line resistance, the major bearish scenario remains intact and the current bullish intraday outlook should be seen just as a corrective move and only a movement above the trend line resistance could end the bearish scenario and begin a new bullish phase. Immediate support is seen around 110.20. A clear break below that area could change the intraday bias to bearish retesting 109.45 support area and keep the major bearish scenario remains strong.

GBPJPY  Forecast

The GBPJPY had a bullish momentum yesterday, topped at 125.99. The bias is bullish in nearest testing 127.02 and the trend line resistance. However note that as long as price stays below the trend line resistance the overall technical outlook remains bearish and the current intraday bullish bias must be seen just as a corrective move and only a movement above the trend line resistance could be a serious threat to the bearish outlook and open the door for a new bullish phase.

AUDUSD Forecast

The AUDUSD continued its bullish bias yesterday, topped at 1.0512 and closed at 1.0485. The bias remains bullish in nearest term especially if price able to make another breakout above 1.0525 testing 1.0678 region. Immediate support is seen around 1.0450/20 region. A clear break back below that area could lead price to neutral zone in nearest term testing 1.0380 area.

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