EURJPY Forecast

The EURJPY attempted to push lower on Friday, bottomed at 132.89 but further bearish scenario was rejected as the pair whipsawed to the upside, hit the top at 135.45 and closed at 135.19. On h4 chart below we can see that the bearish channel has been violated to the upside indicating bearish failure and potential bullish scenario. The bias is bullish in nearest term targeting 136.40 and 137.45. Initial support at 134.85 followed by 134.20. Break below that area should take us into no trading zone.

GBPJPY Forecast

The GBPJPY made indecisive movement on Friday. The pair attempted to push lower, bottomed at 153.55 but whipsawed to the upside, hit the top at 156.57 and close at 155.78. On h4 chart below we have triangle indicating consolidation with the price seems to testing the upper line of the triangle. Breakout to the upside should set up a bullish scenario towards 158.36 area. Immediate support at 155.90 followed by 155.50.

AUDUSD Forecast

The AUDUSD attempted to push lower on Friday, bottomed at 0.8214 but whipsawed to the upside, hit the top at 0.8395 and closed at 0.8346. On h4 chart below we have a bullish channel and the trendline resistance has been violated to the upside indicating potential bullish scenario. The bias is bullish in nearest term targeting 0.8450 – 0.8500 area. However CCI about to cross the 100 line down on h1 chart so watch out fo potential downside rebound testing 0.8330 – 0.8300 support area.