EURJPY Forecast

The EURJPY didn’t make significant movement yesterday. The bias is neutral in nearest term but still within the context of a bearish scenario of the rising wedge especially if price able to break below 111.00 targeting 110.50 – 109.85. On the upside, break above 111.91 could be a threat to the rising wedge bearish scenario.

GBPJPY  Forecast

The GBPJPY didn’t make significant movement yesterday. The double top bearish scenario remains intact but would need a clear break below 130.84 strong support area to continue the bearish scenario testing 130.20 and 129.33. Immediate resistance at 132.00. Break above that area could trigger further upside pullback testing 133.00 and could be a serious threat to the double top bearish scenario.

AUDUSD Forecast

The AUDUSD failed to continue its bearish momentum yesterday after unable to move consistently below 0.9840 support area and traded higher, hit 0.9925 earlier today in Asian session. The bias is neutral in nearest term. Immediate support remains around 0.9840 and the trend line support (red). Clear break below that area would give further validation to the rising wedge bearish scenario targeting 0.9750/10 key support area. Initial resistance at 1.0000 psychological level. Clear break above that area could trigger further bullish momentum testing the all time high at 1.0182 and rising wedge bearish scenario is no longer valid.

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