EURJPY Forecast

The EURJPY continued its bullish momentum yesterday, topped at 106.55 and closed at 106.38. The bias remains bullish in nearest term especially if price able to make another clear break above 106.50 targeting 107.50 – 108.20 area. Immediate support is seen around 105.50. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 104.50 my overall intraday bias remains strongly to the upside as a part of the bullish scenario since bounced from 97.02 and the breakout above the trend line resistance as you can see on my daily chart below.

GBPJPY  Forecast

The GBPJPY had another indecisive movement yesterday but slipped below 125.50 earlier today. There are no changes in my technical outlook. The bias remains bullish in nearest term but a clear break below 125.50 could postpone the bullish scenario testing 124.50 support area. Overall I still prefer a bullish intraday scenario at this phase as a part of the bullish scenario since the breakout above the trend line resistance. Any downside pullback now is normal and I still prefer to buy on dips with nearest bullish target remains around 127.28.

AUDUSD Forecast

The AUDUSD continued its bearish bias yesterday after fell below the trend line support, and slipped below 1.0600 earlier today. The bias remains bearish in nearest term especially if price able to make a clear break and daily close below 1.0600 testing 1.0500. However note that as long as stays above 1.0600 the bearish intraday scenario is not confirmed as the bullish scenario should remain intact although price keeps making lower highs and lows in the last three days. Immediate resistance is seen around 1.0685 – 1.0700 area. A clear break and daily close above that area would keep the bullish scenario remains strong testing 1.0750 – 1.0800 region.

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