Daily Forecast for Crosses: February 15

By @ibtimes on

EURJPY Forecast

The EURJPY had a bearish momentum yesterday after made another false breakout above 113.00 resistance area. The bias is bearish in nearest term targeting 111.60 but as long as price stays above 110.80, the major bullish scenario which started after the breakout above the trend line resistance remains intact. On the upside, another move above 113.00 could trigger further bullish pressure re-testing 114.00 and 114.90.

GBPJPY  Forecast

The GBPJPY was indecisive yesterday. The bias is neutral in nearest term. As you can see on my daily chart below, we have to pay attention to the 134.20 key resistance area. The circled region on the chart show that a failure to make a clear break above that area and a move back below 133.00 triggered a big bearish movement. My bullish mode will be reactivated on a clear break above 134.20 targeting 135.00 even higher. On the downside, a clear break below 133.00 would change the intraday bias to bearish testing 132.50/00 support area even lower.

AUDUSD Forecast

The AUDUSD made another volatile but indecisive movement yesterday. The bias is neutral in nearest term. We are still in a very tricky phase here where overall the technical bias remains bullish but a rising wedge and triple top formation around the all time historical high could provide a big bearish reversal scenario at least testing 0.9800 especially if price able to make a clear break below the rising wedge and 0.9960. Immediate resistance at 1.0070 – 1.0100. Clear break above that area could trigger further bullish pressure testing 1.0140 – 1.0200/56.

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