EURJPY Forecast

The EURJPY didn’t make significant movement yesterday. Price is now attempting to push higher above 131.75 area, but never really able to move convincingly above that level so far. On h4 chart below we have an ascending triangle after some bullish momentum indicating potential bullish continuation scenario especially if we have a valid breakout above the triangle, which is also above 131.75 area targeting 132.70 even 133.50 area. However if this bullish ascending triangle fails and price violate the triangle to the downside, price should significantly fall testing 130.90 and 130.05 area.   I am expecting to see a valid break from the triangle area to see clearer direction, then just follow it.

GBPJPY  Forecast

The GBPJPY had a moderate bullish momentum yesterday, topped at 146.66 and closed at 146.58. This fact should keep the bullish scenario intact, but we need a consistent move above 146.80 area to continue the bullish scenario towards 149.05 area. On the downside, key support area is seen around the trendline support (blue). Break below that trendline support should be seen as serious threat to the bullish scenario. Immediate support at 146.00 – 145.80 area.

AUDUSD Forecast

The AUDUSD had a significant technical movement yesterday by break above 0.8850 area. The bearish scenario is clearly in a serious threat. On h4 chart below we can see that the bullish momentum found a resistance at the minor trendline resistance (blue). We need a break above that trendline to confirm the bullish scenario targeting 0.9020. Another movement below 0.8850 could be seen as a false breakout which could trigger significant bearish momentum re-testing 0.8733 area.