EURJPY Forecast

As I had expected, the EURJPY continued its bullish momentum on Friday, topped at 134.54 and closed at 134.50. The bias remains bullish in nearest term targeting 135.50. However CCI in overbought area and about to cross the 100 line down on h4 chart so watch out for potential downside correction testing 133.50 and 132.75 support area. We are in buy mode for this pair and short position is not recommended.

GBPJPY Forecast

The GBPJPY continued its bullish momentum on Friday, topped at 149.15 and closed at 149.11. The bias remains bullish in nearest term targeting 150.30 but we need a consistent move above 148.50 area to continue the bullish scenario. CCI in overbought area and heading down on h4 chart suggesting potential downside correction testing 147.64 area. Break below that area should trigger further bearish correction testing 146.76 but I still prefer to buy on dips and short position is not recommended at this phase.

AUDUSD Forecast

The AUDUSD had a bearish momentum on Friday, bottomed at 0.9106 and closed at 0.9144. On h4 chart below we can see that after made a false breakout from the trendline resistance the pair has been under pressure to the downside testing 0.9030 area. Immediate resistance at 0.9180. Break above that area should trigger further bullish momentum testing the trendline resistance but as long as price stay below trendline resistance I prefer a bearish scenario at this phase.