EURJPY Forecast

The EURJPY didn’t make significant movement yesterday. The bias remains neutral in nearest term. Price is still in a consolidation phase. My overall technical outlook remains to the downside but a clear break and daily close above 102.48 could trigger further bullish correction scenario testing 104.00/95. On the downside, key support area remains around 100.74 – 100.00. As long as stays above that area I expect no further bearish momentum.

GBPJPY  Forecast

The GBPJPY didn’t make significant movement yesterday but overall still able to maintain its bullish nearest term bias especially if price able to make a clear break and daily close above 122.62 testing 124.00 – 125.50 as the double bottom bullish reversal scenario might regain its momentum. Immediate support remains around 121.81. A clear break below that area could lead price to a neutral zone in nearest term testing 121.00 area.

AUDUSD Forecast

The AUDUSD regained its bullish momentum yesterday, topped at 1.0147 and hit 1.0180 earlier today in Asian session. The bias is bullish in nearest term testing the upper line of the triangle and 1.0250 resistance area. I still prefer a major bearish reversal scenario after hit the record high five months ago and expect no movement above the triangle as it would cancel the bearish reversal scenario. Immediate support is seen around 1.0115 followed by 1.0050. A clear break and daily close below 1.0050 would give my bearish reversal scenario another chance, testing the lower line of the triangle.

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