EURJPY Forecast

The EURJPY regained its bullish momentum yesterday, topped at 103.18 and hit 103.45 earlier today. The bias is bullish in nearest term testing 103.85. A clear break and daily close above that area could trigger further bullish scenario testing 105.00/50 region. Immediate support is seen around 102.50. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above the trend line support and 100.74 support area I still prefer a bullish intraday scenario at this phase. As you can see on my daily chart below price slipped above the major trend line resistance (white), suggests a potential bullish reversal scenario.

GBPJPY  Forecast

The GBPJPY regained its bullish momentum yesterday, topped at 123.14 and broke above 123.20 earlier today. Like I said before, 123.20 is a key resistance area (200-daily-EMA) and a clear break above that area could trigger further bullish scenario as bullish reversal scenario has further confirmation after the breakout above the trend line resistance as you can see on my daily chart below, testing 124.00 even 125.00/50 area. Immediate support is seen around 122.62. A clear break back below that area could lead price to neutral zone in nearest term but as long as stays above 122.00 my overall technical bias remains strongly to the upside.

AUDUSD Forecast

The AUDUSD had another volatile but indecisive movement yesterday. Price attempted to push lower, bottomed at 1.0628 but closed higher at 1.0698 and hit 1.0747 earlier today. This fact keeps the bullish phase remains strong still testing 1.0850 – 1.0900 area. The bias is bullish in nearest term. Immediate support is seen around 1.0700. A clear break below that area could lead price to neutral zone in nearest term but as long as moves above the trend line support and 1.0600 I still prefer a bullish scenario at this phase.

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