EURJPY Forecast

The EURJPY corrected higher earlier today in Asian session, hit 109.50 resistance area. A clear break above that area could trigger further bullish consolidation testing 110.10/50. Immediate support at 108.90. Break below that area would keep the bearish scenario remains strong but still need a clear break below 108.33 to continue the bearish scenario targeting 107.30.

GBPJPY  Forecast

The GBPJPY continued its bearish bias, but still unable to make a clear break below 127.44 so far. The bias remains bearish in nearest term with 126.50 as the nearest target. However note that we are entering the end of the year where some upside consolidation may occur. Expected range for the remaining days of 2010 between 128.75 – 126.50.

AUDUSD Forecast

The AUDUSD continued its bullish bias earlier today in Asian session, hit 1.0088. The bias remains bullish in nearest term especially if price able to make a clear break above 1.0090 targeting all time high at 1.0182. Immediate support remains around 0.9987. Break below that area could lead us to neutral zone in nearest term but as long as price moves inside the bullish channel we are still in strong bullish outlook, aiming for new historical highs.

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