EURJPY Forecast

The EURJPY made indecisive movement yesterday, formed a Doji on daily chart indicating consolidation, but I still prefer a bearish scenario with sell on rallies strategy at this phase with potential nearest target remains around 124.50. Immediate resistance at 126.89. Break above that area should lead us into no trading zone as direction would become unclear for me.

GBPJPY Forecast

The GBPJPY failed to continue its bearish momentum yesterday. Price now go back inside the triangle, lead us back into no trading zone area as direction is unclear in nearest term. However, the rejection to move consistently below the triangle could potentially produce a false breakdown scenario which could trigger a significant upside momentum. Immediate support at 144.70. Break below that area should trigger further bearish momentum back towards 143.63 before testing 142.00 area. Initial resistance at 146.00. Break above that area should trigger further bullish momentum towards 147.27 area.

AUDUSD Forecast

The AUDUSD attempted to push lower yesterday, break below 0.8980, bottomed at 0.8910 but closed higher at 0.8950. The bias is neutral in nearest term but the fact that price is now consistently move below 0.8980 suggests further bearish scenario towards 0.8810 area this week especially if we have a break below 0.8910 area. Another move back above 0.8980 should lead us into no trading zone as direction would become unclear in nearest term but overall I still prefer a bearish scenario with short on rallies strategy.