EURJPY Forecast

The EURJPY had a bearish momentum last week, bottomed at 99.44 and closed at 99.56. The bias is bearish in nearest term testing 99.00. A clear break and daily close below that area could trigger further bearish pressure testing 98.00 – 97.00 area. Immediate resistance is seen around 100.00. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 100.74 I still prefer a bearish intraday scenario at this phase with sell on rallies strategy.

GBPJPY  Forecast

The GBPJPY had a bearish momentum last week on a broad Yen strength, slipped below 119.35 and hit 119.23 earlier today in Asian session. The bias is bearish in nearest term especially if price able to make a clear break below 119.35 testing the double bottom around 116.82. Immediate resistance is seen around 120.00. A clear break back above that area could lead price to neutral zone in nearest term testing 121.00/50 resistance area but as long as stays below 122.62 my overall technical bias remains to the downside. The double bottom bullish reversal scenario remains valid but need a clear break above 122.62 to regain its momentum.

AUDUSD Forecast

The AUDUSD was indecisive last week, but broke above the triangle as you can see on my h4 chart below. This fact postpones my bearish reversal scenario, turn my nearest term bias to a bullish mode testing 1.0400 resistance area. Immediate support is seen around 1.0250/20 area. A clear break below that area could lead price to a neutral zone in nearest term as direction would become unclear.

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