EURJPY Forecast

The EURJPY continued its bearish momentum last week, closed below 98.00. The bias remains bearish in nearest term testing 97.00 even lower. Immediate resistance is seen around 98.20. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and only a clear break back above 100.74 would stop the current strong bearish intraday outlook.

GBPJPY  Forecast

The GBPJPY was able to maintain its bearish weekly bias last week, bottomed at 118.24 and closed at 118.60. The bias is bearish in nearest term testing 117.75 and the double bottom formation around 116.82. Immediate resistance is seen around 119.00. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and my overall technical bias remains to the downside and only a clear break back above 122.62 would stop the current bearish outlook.

AUDUSD Forecast

The AUDUSD attempted to push higher last week, topped at 1.0385 but whipsawed to the downside and closed below 1.0200 and hit 1.0144 earlier today in Asian session. This fact stops my bullish intraday outlook since the breakout above the triangle and my medium bias is not so clear now. The bias is bearish in nearest term testing 1.0050. A clear break and daily close below that area and a movement back inside the triangle would give another chance to the bearish reversal scenario after hit the record high five months ago. Immediate resistance is seen around 1.0250. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear but would keep the bullish scenario after the breakout above the triangle remains intact, retesting 1.0300 – 1.0385 key resistance area.

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