EURJPY Forecast

The EURJPY continued its bullish momentum last week closed at 109.18 on Friday. Price gapped up earlier today opened higher at 109.72. The bias remains bullish in nearest term but the gap might be filled so any downside pullback testing 109.18 area is normal, not to mention price already in overbought area. A clear break below 109.18 could lead price to neutral zone in nearest term but as long as stays above 108.20 my overall intraday bias remains strongly to the upside and I still prefer a bullish scenario at this phase with buy on dips strategy targeting 111.58 resistance area.

GBPJPY  Forecast

The GBPJPY continued its bullish momentum last week, closed at 128.86. Price gapped up earlier today opened higher at 129.40. The bias remains bullish in nearest term but the gap might be filled so any downside pullback testing 128.86 area is normal, not to mention price already on overbought area. A clear break below 128.86 could lead price to neutral zone in nearest term but as long as stays above 127.28 my overall intraday bias remains strongly to the upside and I still prefer to buy on dips with nearest bullish target seen around 130.82.

AUDUSD Forecast

The AUDUSD had another indecisive movement last week. A quick look at the weekly chart easily reveals that price has been moving sideways in the last four weeks. The bias is neutral in nearest term but as long as stays above 1.0600 I still prefer a bullish scenario at this phase with nearest bullish target around 1.0844. On the downside, a clear break and daily close below 1.0600 could stop the bullish intraday outlook, probably turn my nearest term bias to a bearish view testing 1.0500 – 1.0550 area.

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