EURJPY Forecast

The EURJPY continued its bearish momentum yesterday, bottomed at 99.03 and closed at 99.19. The bias is bearish in nearest term especially if price able to make a clear break below 99.00 testing 98.00 – 97.00 region. Immediate resistance is seen around 99.50. A clear break back above that area could lead price to neutral zone in nearest term but as long as stays below 100.74 my overall technical bias remains to the downside and I still prefer to sell on rallies at this phase.

GBPJPY  Forecast

The GBPJPY bullish momentum was stopped yesterday. The bias is neutral in nearest term but as long as stays below 122.62 my overall intraday bias remains to the downside and I still prefer to sell on rallies at this phase. Immediate support is seen around 119.35 – 118.96. A clear break below that area could trigger further bearish pressure testing 118.25 – 117.75 region which could be a serious threat to the double bottom bullish reversal scenario. Immediate resistance is seen around 120.00/20 area. A clear break and daily close above that area could trigger further bullish pressure testing 121.00/50 but we need a clear break and daily movement above 122.62 to cancel the current bearish intraday outlook and keep the double bottom bullish scenario remains strong.

AUDUSD Forecast

The AUDUSD bullish momentum was stopped yesterday on broad US Dollar strength. The bias is neutral in nearest term but the current bearish consolidation is normal and my overall intraday bias remains to the upside after the breakout above the triangle as you can see on my h4 chart below. Immediate support is seen around 1.0300. A clear break below that area could trigger further bearish pressure testing 1.0200 support area which could be a serious challenge to the bullish scenario after the breakout above the triangle. On the upside, we still need a clear break above 1.0400 to keep the bullish scenario strong testing 1.0500 region.

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