EURJPY Forecast

The EURJPY had a bullish momentum on Friday after failed to stay consistently below 109.45 and hit 110.92 earlier today in Asian session. The bias is neutral in nearest term. Immediate resistance is seen around 111.04. A clear break and daily close above that area could trigger further bullish pressure testing the trend line resistance but as long as price stays below the trend line resistance my overall technical bias remains to the downside and any bullish pullback now should be seen just as a corrective move. On the downside, we need a clear break and daily close below 109.45 to continue the bearish scenario testing 106.57.

GBPJPY  Forecast

The GBPJPY attempted to push higher earlier today in Asian session, almost touch my trend line resistance, hit 127.30. The trend line resistance did a good job so far keep the major bearish scenario intact. The bias is neutral in nearest term. Immediate support is seen around 125.90. A clear break below that area could change the intraday bias back to bearish testing 125.25 – 124.85 and keep the major bearish scenario strong. On the upside, only a clear break above my trend line resistance could be a threat to the major bearish outlook.

AUDUSD Forecast

The AUDUSD was volatile but indecisive last week. The bias is neutral both in nearest and medium term. As you can see on my daily chart below price is in the middle between all time high (1.1079) and the trend line support, which is a no trade zone for me. Price might still in a bearish correction phase since hit the all time high, but need a clear break below the trend line support to continue the bearish scenario. Immediate support is seen around 1.0370. A clear break below that area could trigger further bearish pressure testing 1.0300. A clear break and daily close below 1.0300 could trigger further bearish pressure retesting the trend line support. Immediate resistance is seen around 1.0450. A clear break above that area could trigger further bullish pressure testing 1.0525/50 area.

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