EURJPY Forecast

The EURJPY was corrected higher yesterday, topped at 98.31 and closed at 97.90. The bias is bullish in nearest term but as long as stays below 99.00 my overall intraday bias remains strongly to the downside and I still prefer to sell on rallies at this phase. Only a clear break and daily close back above 100.74 would stop the current strong bearish outlook. Immediate support is seen around 97.65. A clear break below that area could lead price to neutral zone in nearest term but would keep the major bearish scenario strong testing 97.00 support area. A clear break and daily close below 97.00 could trigger further bearish pressure testing 96.00 – 95.00 region.

GBPJPY  Forecast

The GBPJPY attempted to push higher yesterday, topped at 118.25 but further bullish pressure was rejected, closed lower at 117.81 and hit 117.53 earlier today. The bias is bearish in nearest term testing 117.00 – 116.82. Immediate resistance is seen around 118.00/25 area. A clear break and daily close above that area could trigger further bullish pullback but as long as stays below 119.35 my overall intraday bias remains strongly to the downside and I still prefer to sell on rallies at this phase.

AUDUSD Forecast

The AUDUSD attempted to push higher yesterday, topped at 1.0448 but closed a little bit lower at 1.0381. Price seems hesitate to make a clear break above the ascending triangle formation but the overall technical bias remains to the upside testing 1.0500 – 1.0600 resistance area. Immediate support is seen around 1.0350. A clear break below that area could trigger further bearish pullback testing 1.0300 but only a clear break and daily close back below 1.0200 would be a threat to the current bullish outlook. EMA 200 indicator is moving below price on hourly to monthly chart suggest a bullish outlook.

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