EURJPY Forecast

The EURJPY made indecisive movement yesterday, formed a Doji on daily chart indicating consolidation. Price attempted to push lower, but the lower line of the bullish channel did a good job preventing further bearish attack, keep the bullish scenario intact with technical target remains around 134.50 area. Immediate support at 132.80 area. Break below that area a violation to the bullish channel should be seen as potential bullish failure and could trigger significant bearish momentum testing 132.15 support area.

GBPJPY Forecast

The GBPJPY was corrected lower yesterday, bottomed at 148.64 and closed at 148.81. This fact should lead us into no trading zone but the nearest bias is bearish targeting 147.15 area. On h4 chart below we have a rising wedge formation, which is a bearish pattern especially if price break below the lower line of the rising wedge. Immediate resistance at 149.30 area. Break above that area should trigger further bullish momentum testing the upper line of the rising wedge. Break above the upper line of the rising wedge should be seen as bearish scenario failure thus trigger further bullish scenario towards 153.22 area.

AUDUSD Forecast

The AUDUSD had a significant bullish momentum yesterday. On h4 chart below we can see that price is now moving inside the bullish channel indicating bullish view remains intact. The bias is bullish in nearest term targeting 0.9230. However CCI in overbought area and heading down on h4 chart suggesting potential downside pressure testing 0.9075 support area. I will be watching any reaction around that area before make any decision today. Break below 0.9075 area could trigger further bearish momentum re-testing the lower line of the bullish channel once again.