EURJPY Forecast

The EURJPY continued its bullish momentum yesterday broke and closed strongly above 99.00 and traded around 100.00 at the time I wrote this comment earlier today. The bias is bullish in nearest term testing 100.74. My major bearish scenario remains intact but need a clear break and daily close back below 99.00 to reactivate my bearish mode. On the upside, a clear break and daily close above 100.74 could trigger further bullish scenario testing 102.48 region.

GBPJPY  Forecast

The GBPJPY continued its bullish momentum yesterday and slipped above 119.35 resistance area. The bias remains bullish in nearest term especially if price able to make a clear break above 119.35 testing 120.00/50 before testing 122.62 key resistance. Immediate support is seen around 119.00. A clear break below that area could lead price to neutral zone in nearest term. My major bearish scenario remains intact but need a clear break and daily close at least below 118.50 to reactivate my bearish mode.

AUDUSD Forecast

The AUDUSD was indecisive yesterday, made a Doji on daily chart. As you can see on my h4 chart below price is still struggling around the upper line of the ascending triangle. No convincing bullish momentum so far despite broad US Dollar weakness in the last three days. However my overall technical bias remains to the upside testing 0.9500 – 0.9600 area. Immediate support remains 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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