EURJPY Forecast

The EURJPY made indecisive movement yesterday, formed a Doji on daily chart. I think we are still in no trading zone, but aggressive traders might try to short around 126.89 area with only a tight stop loss. Break above 126.89 should trigger further bullish momentum testing 129.00 area. Immediate support at 125.80. Break below that area should trigger further bearish momentum towards 124.50 area.

GBPJPY Forecast

The GBPJPY also made indecisive movement yesterday. The bias is neutral in nearest term and we are still in no trading zone. On h4 chart below we have a falling wedge formation which is technically a potential bullish pattern especially if price break above the formation. Immediate resistance at 145.45 area. Break above that area should trigger further bullish momentum towards 146.22 even 147.20 area. Initial support at 143.80. Break below that area should trigger further bearish momentum towards 143.00 even 142.00.

AUDUSD Forecast

The AUDUSD attempted to push lower yesterday, bottomed at 0.8780 but closed higher at 0.8862. It seems like price trapped in range area of 0.8925 – 0.8780. The bearish scenario should remains intact as price still move inside the bearish channel. I think the best strategy is to short around 0.8925 or long around 0.8780 with a tight stop loss. Break above 0.8925 should trigger further bullish correction testing the upper line of the bearish channel while break below 0.8780/33 should continue the bearish scenario targeting 0.8550 area.