EURJPY Forecast

The EURJPY had a bullish momentum yesterday. On h4 chart below we can see that the inverse H&S bullish scenario was confirmed as the neckline was convincingly violated to the upside. The bias is bullish in nearest term targeting 137.90. Immediate support is seen at 135.90. Break below that area should be seen as bullish failure and could trigger further bearish pressure towards 134.90 area. CCI in overbought area and heading down on h4 chart indicating potential downside consolidation.

GBPJPY Forecast

The GBPJPY had a moderate bullish momentum yesterday. On h4 chart below we still have valid bullish trendline and minor bullish channel that should support the bullish view. However the bias remains neutral in nearest term. Immediate resistance is seen at 160.25 area. Break above that area should trigger further bullish momentum targeting 161.25 area. Initial support at 158.20. CCI in neutral area on daily chart.

AUDUSD Forecast

The AUDUSD had indecisive movement yesterday. On daily chart below we can see that since hit 0.8261 on June 03, the pair corrected lower, forming a minor bearish channel. Unless the minor bearish channel violated to the upside, the bullish continuation scenario is not confirmed yet. However, once confirmed, 0.8500 area should be the next bullish target in medium term outlook. Immediate support is seen at 0.8000. Initial resistance at 0.8150 followed by 0.8261.