EURJPY Forecast

The EURJPY had indecisive movement yesterday, formed a Doji formation on daily chart. The bias neutral in nearest term but as long as the trendline support hold (see chart below) I prefer upside scenario. Immediate support is seen at 134.50. Initial resistance at 136.30. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.

GBPJPY Forecast

The GBPJPY failed to continue it’s bullish scenario yesterday. The pair attempted to push higher, topped at 160.25 but further upside pressure was rejected as the pair whipsawed to the downside, bottomed at 158.19 and closed at 158.53. This fact should take us back into no trading zone. On h4 chart below we still have bullish channel and bullish trendline support so I still prefer upside scenario. Immediate support is seen at 158.19 area (yesterday’s low). Break below that area should trigger further bearish pressure towards 157.30.

AUDUSD Forecast

The AUDUSD attempted to push higher yesterday, topped at 0.8153 but further bullish scenario was rejected as the pair whipsawed to the downside, bottomed at 0.8038 and closed at 0.8061. On h4 chart below we have rising wedge formation indicating potential bearish reversal especially if the wedge violated to the downside. The bias is neutral in nearest term. Immediate support is seen at 0.8000. Initial resistance at 0.8150.