EURJPY Forecast

The EURJPY attempted to push lower yesterday, filled the gap and bottomed at 104.64 but closed higher at 105.14. The bias is neutral in nearest term but overall my technical outlook remains to the upside with nearest bullish target around 106.50. On the downside, a clear break and daily close below 104.50 could postpone the bullish scenario but as long as stays above the trend line support (blue, see my daily chart below) my overall technical outlook remains to the upside.

GBPJPY  Forecast

The GBPJPY didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 127.28. Immediate support remains around 125.50. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and overall I still prefer a bullish intraday scenario at this phase with buy on dips strategy as a part of the bullish reversal scenario after the breakout above the trend line resistance and movement above 200-daily-EMA.

AUDUSD Forecast

The AUDUSD was still unable to continue its bullish momentum yesterday. The bias is neutral in nearest term and overall there are no changes in my technical outlook. As long as stays above the trend line support and 1.0600 I still prefer a bullish intraday scenario at this phase with buy on dips strategy, still testing 1.0850 – 1.0900. Price has been moving sideways in the last two weeks.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.