EURJPY Forecast

The EURJPY was corrected lower yesterday, bottomed at 107.18 and closed at 107.87. The bias is neutral in nearest term. Overall I still prefer a bullish intraday scenario at this phase and the current bearish correction is normal. Immediate resistance is seen around 108.10 area. A clear break and daily close above that area could end the current bearish correction phase and continue the bullish bias testing 109.23/73 area. Immediate support is seen around 106.50. I don’t expect any movement below that area as it would postpone the bullish scenario and activate my wait and see mode.

GBPJPY  Forecast

The GBPJPY was corrected lower yesterday, bottomed at 126.93 and hit 126.66 earlier today. The bias is neutral in nearest term but as long as stays above 125.50 I still prefer a bullish scenario at this phase with buy on dips strategy targeting 130.82 as a part of the bullish scenario after the breakout above the trend line resistance as you can see on my daily chart below. The current bearish correction momentum should be seen just as a normal corrective movement.

AUDUSD Forecast

The AUDUSD continued its bullish momentum yesterday, topped at 1.0783 and closed at 1.0756. The bias is bullish in nearest term especially if price able to make another break above 1.0783 testing 1.0844. Immediate support is seen around 1.0725. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.0600 I still prefer a bullish intraday scenario at this phase with buy on dips strategy.

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