EURJPY Forecast

The EURJPY had indecisive movement yesterday formed ad Doji formation on daily chart. The pair attempted to push lower, bottomed at 132.17 but whipsawed to the upside and closed higher at 133.89. The bias is bullish in nearest term, but long position is not recommended at this phase. On daily chart below we still have a bearish channel indicating bearish view. So, I still prefer bearish scenario. Immediate support is seen at 133.50. Break below that area should trigger bearish momentum re-testing 132.17 area (yesterday’s low). Initial resistance at 135.75.

GBPJPY Forecast

The GBPJPY attempted to push lower yesterday, bottomed at 153.62 but bearish momentum seemed limited as the pair closed high at 155.53. On h1 chart below we still have a valid bearish channel indicating bearish view. The bias is neutral in nearest term but I prefer a bearish scenario today, re-testing 153.62 (yesterday’s low). Immediate resistance is seen at 155.95 followed by 156.90.

AUDUSD Forecast

The AUDUSD attempted to push lower yesterday, bottomed at 0.8174 but whipsawed to the upside, topped at 0.8312 and closed at 0.8299. On h4 chart below we can see that the trendline support has been violated to the downside, but further downside scenario was rejected by 38.2% Fibo retracement (of 0.7700 – 0.8476) support around 0.8180 area and now traded higher around the trendline. I think we are in no trading zone now but as long as the pair able to stay below the trendline resistance, I prefer a downside scenario. Immediate resistance is seen at 0.8330/50 area. Initial support at 0.8230.