EURJPY Forecast

The EURJPY continued its bearish scenario yesterday, bottomed at 121.56 and closed at 121.85 after a false breakout above 124.80. On h4 chart below we can see that the bullish channel has been violated to the downside indicating bullish failure and potential further bearish scenario targeting 120.69 area. Immediate resistance at 122.50 – 123.00 area. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase.

GBPJPY Forecast

The GBPJPY had a bearish momentum yesterday, bottomed at 138.72 and closed at 139.11. After the violation to the bullish channel the outlook should be a bearish one. The bias remains bearish in nearest term targeting 138.23 area. Immediate resistance at 139.90. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase.

AUDUSD Forecast

The AUDUSD had a bearish momentum yesterday, violated the bullish channel but still not able to stay consistently below 0.8910 area so far. I prefer a bearish scenario at this phase but we need a consistent move below 0.8910 area to continue the bearish scenario targeting 0.8780 area. Immediate resistance at 0.8950 area. Break above that area should lead us into a consolidation phase with expected range at 0.9040 – 0.8910.