Daily Forecast for Crosses: January 25

The EURJPY had a volatile but indecisive movement on Friday. Price attempted to push lower, slipped below 126.89 support area but closed higher at 127.07. This rejection to consistently move below 126.89 area could trigger further bullish correction but as long as price stay below the trendline (red) I still prefer a bearish scenario. Immediate resistance at 128.18 (Friday’s high). Break above that area should trigger further bullish scenario testing key resistance level 129.00.

GBPJPY Forecast

The GBPJPY continued its bearish momentum on Friday, bottomed at 144.60 and closed at 144.79. The bias is bearish in nearest term targeting 143.15 area. However CCI about to cross the -100 line up on h4 chart so watch out for potential upside correction testing 145.50. Break above that area should lead us into no trading zone, trigger further bullish correction towards 146.50/60 area but I still prefer a bearish scenario at this phase with sell on rallies strategy.

AUDUSD Forecast

The AUDUSD made indecisive movement on Friday. On h4 chart below we can see that price is moving between 0.8980 – 0.9090 area at this phase. Overall I still prefer a bearish scenario but the bias is neutral in nearest term and we need a break from that range area to see clearer direction.  Break above 0.9090 should trigger further bullish correction towards 0.9170 while break below 0.8980 should trigger further bearish momentum towards 0.8910.