EURJPY Forecast

The EURJPY failed to continue its bullish momentum yesterday, closed at 101.37 and hit 100.76 earlier today in Asian session. Price might entering a tricky phase now with conflicting multi time frame bias but as long as stays above 100.74 the overall intraday bias remains strongly to the upside and only a clear break and daily close back below 100.00 could be a threat to the current intraday bullish outlook. Immediate resistance is seen around 101.50. A clear break above that area could keep the bullish bias remains strong still testing 102.48 area.

GBPJPY  Forecast

The GBPJPY failed to continue its bullish momentum yesterday, bottomed at 121.29 and hit 120.51 earlier today in Asian session on broad Japanese Yen strength. The bias is bearish in nearest term but as long as stays above 120.00 support area the overall bullish intraday bias since bounced from 117.27  should remain intact. The major bearish scenario should also remain intact and only a clear break and daily close above 122.62 could be a threat to the major bearish scenario probably gives early signal of a major bullish reversal scenario.

AUDUSD Forecast

The AUDUSD attempted to push higher yesterday, topped at 1.0686 but closed lower at 1.0609. The bias is neutral in nearest term but the overall bias should remain to the upside after the breakout above the ascending triangle as you can see on my h4 chart below still testing 1.0751. Immediate support is seen around 1.0550 followed by 1.0500. I do not expect any movement and daily close below 1.0500 as it would postpone the bullish scenario testing 1.0400 support area.

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