Daily Forecast for Crosses: December 17

The EURJPY made indecisive movement yesterday indicating consolidation. However, as you can see on h4 chart below, price still move above the trendline support (blue) indicating the pressure is still more to the upside with 131.75 as the nearest bullish target. I think we are in a good place to place a long position with tight stop loss below the trendline support. Good technical set up and risk-reward ratio.

GBPJPY Forecast

The GBPJPY had a moderate bullish momentum yesterday, topped at 146.91 and closed at 146.60. This fact should keep my bullish scenario intact but we need a consistent move above 146.80 area to confirm bullish scenario towards 147.60 and 148.50 area. Immediate support at 145.60 followed by 144.85. Only break below 144.85 should be seen as potential threat to my bullish outlook.

AUDUSD Forecast

As I had expected, the AUDUSD continued its bearish momentum yesterday, bottomed at 0.8954 but closed higher at 0.8999 after rejected to move above the trendline resistance area, as you can see on my h4 chart below. The bias remains bearish targeting 0.8915 area. Immediate resistance at 0.9030. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase.