EURJPY Forecast

The EURJPY attempted to push lower on Friday, but further bearish pressure was rejected after found support around 100.74 as you can see on my daily chart below. The bias is neutral in nearest term but the overall technical intraday bias remains to the upside testing 102.48 as long as stays above 100.74. On the downside, a clear break below 100.74 could be a threat to the current bullish intraday outlook testing 100.00 support area.

GBPJPY  Forecast

The GBPJPY attempted to push higher last week, topped at 122.03 but closed lower at 120.61 on Friday. The bias is neutral in nearest term. Overall price is still in a bullish intraday scenario since bounced from 117.27 but as long as stays below 122.62 the major bearish outlook should remain intact. Immediate support is seen around 120.00. A clear break below that area could trigger further bearish pressure testing 119.35 and could be a threat to the bullish intraday outlook.

AUDUSD Forecast

The AUDUSD continued its strong bullish momentum last week, topped at 1.0686 but corrected lower earlier today hit 1.0555. The bias is neutral in nearest term but as long as stays above 1.0500 I still prefer a bullish intraday scenario at this phase as a part of the bullish scenario since the breakout above the ascending triangle still testing 1.0751 area. On the downside, a clear break and daily close below 1.0500 could stop the current strong bullish intraday outlook testing 1.0400 region.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.