EURJPY Forecast

The EURJPY continued its bearish momentum yesterday, bottomed at 129.64 and closed at 129.88. On h4 chart below we can see that price break below trendline support indicating bullish failure. The bias remains bearish in nearest term targeting 129.00 Immediate resistance at 130.80. Break above that area should lead us into no trading zone. Although technical view is sightly bearish, remember that Japanese government wants a weaker Yen due to deflation which can be a fundamental support that could limit bearish momentum for this pair.

GBPJPY Forecast

The GBPJPY had a significant bearish momentum yesterday, bottomed at 143.58 and closed at 143.70. On h4 chart below we can see that price break below the trendline indicating bullish failure and bearish view. The bias is bearish targeting at least 141.60 area. Immediate resistance at 144.70. Although technical view is sightly bearish, remember that Japanese government wants a weaker Yen due to deflation which can be a fundamental support that could limit bearish momentum for this pair.

AUDUSD Forecast

The AUDUSD continued its bearish momentum yesterday, bottomed at 0.9019 and closed at 0.9032. In longer term view, the outlook should remains bearish with technical target around 0.8915 but on h4 chart below we have a CCI divergence indicating potential bullish pullback so watch out for potential bullish correction testing 0.9180 area.