EURJPY Forecast

The EURJPY was corrected higher last week topped at 100.32 but still unable to move consistently above 100.00 area so far. Price is now in a bullish correction phase but as long as stays below 100.74 my major bearish scenario should remain intact and I still prefer to sell on rallies. Immediate support is seen around 99.00 – 98.50. A clear break and daily close below that area could end the current bullish correction phase retesting 97.00 area. 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 was corrected higher last week topped at 119.97 and now ready to test 120.00/50 resistance area. The bias is bullish in nearest term. My major bearish scenario should remain intact but price is now in a bullish correction phase. A clear break and daily close above 120.00/50 could trigger further bullish correction scenario testing 122.62 key resistance area. Immediate support is seen around 119.50. A clear break below that area could lead price to neutral zone in nearest term but only a clear break and daily close at least below 119.00 could end the current bullish correction phase.

AUDUSD Forecast

The AUDUSD had a significant bullish momentum last week and now convincingly moves above the ascending triangle as you can see on my h4 chart below. This fact confirms the bullish continuation scenario testing 1.0500 – 1.0600 area. Immediate support is seen around 1.0450. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.0385 I still prefer a bullish scenario at this phase with buy on dips strategy.

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