Daily Forecast for Crosses: December 23

The EURJPY continued its bullish momentum yesterday, topped at 131.06 and closed at 130.86. The bias should remains to the upside targeting 131.75. However CCI just cross the 100 line down on h4 chart so watch out for potential bearish correction testing 130.05 area. Break below that area should trigger further bearish correction testing 129.00 area but that will lead me into no trading zone as direction would become unclear for me.

GBPJPY Forecast

The GBPJPY didn’t make significant movement yesterday. Overall the pressure remains to the upside but as you can see on my h4 chart below price still struggling around 146.80 area indicating bullish paused and consolidation. We need a consistent move above 146.80 to continue the bullish scenario towards 148.50 this week. Immediate support 145.90 area. Break below that area should trigger further bearish correction but as long as price move above the trendline support (red) I still prefer a bullish scenario.

AUDUSD Forecast

The AUDUSD had a moderate bearish momentum yesterday, bottomed at 0.8741 and closed at 0.8748. The bias should remains to the downside. I believe, after break below 0.8850 area this pair should continue the bearish momentum at least targeting 0.8650 area before testing key support level around 0.8500 area this month. Immediate resistance at 0.8800 – 0.8850. Break above that area should trigger further bullish correction but as long as the trendline resistance (blue) hold, I still prefer a bearish scenario for this pair.

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