EURJPY Forecast

The EURJPY slipped above 113.99, hit 114.17 but closed lower at 113.68 and hit 112.87 earlier today in Asian session on risk aversion sentiment triggered by growing tension in Libya and Middle East. The bias is neutral in nearest term. The major scenario remains to the upside but would need a clear break above 113.99 to continue the bullish scenario targeting 114.90. On the downside, a clear break below 112.87 would change the intraday bias to bearish testing 112.30/00 but as long as price stays above 110.80 the major bullish outlook remains intact.

GBPJPY  Forecast

The GBPJPY slipped below 134.20 earlier today in Asian session on a broad risk aversion sentiment but bounced to the upside and traded around 134.60 at the time I wrote this comment. The bias is neutral in nearest term. We are still in strong technical bullishness phase but would need a clear break above 135.50 (triple top) to continue the bullish scenario targeting 136.50 and 137.75. On the downside, a clear break below 134.20 would change the intraday bias to bearish testing 133.15 even lower as the triple top bearish scenario would have further validation.

AUDUSD Forecast

The AUDUSD had a bearish momentum yesterday, bottomed at 1.0071 and hit 1.0008 earlier today in Asian session. The bias is bearish in nearest term testing 0.9940/50 key support area. Clear break below that area and consistent move below the rising wedge formation would trigger further bearish scenario at least targeting 0.9800. Immediate resistance at 1.0070. Clear break above that area would change the intraday bias to bullish re-testing 1.0150 area and keep the major bullish scenario remains strong, aiming for new all time highs.

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