EURJPY Forecast

The EURJPY was corrected lower yesterday and now struggling around the trend line resistance (white) and the lower line of a minor bullish channel (red channel) as you can see on my h4 chart below. The fact that 117.00 support area has been broken might trigger further bearish pullback especially if price breaks below the minor bullish channel and 116.60 support area today, testing 116.00 – 115.80 support area and keep the h4 chart sideways outlook between 117.88 – 113.40 intact. Immediate resistance at 117.50/117.88. A clear break above that area could lead us to a new bullish phase testing 119.77 and 123.31.

GBPJPY  Forecast

The GBPJPY was volatile but indecisive yesterday. Price slipped above 130.20, topped at 130.83 but failed to consistently move above 130.20 so far in a trendless market. The falling wedge bullish scenario remains intact but still need a clear break above 130.20 to have another chance for further bullish scenario testing 130.83 and 132.30. The bias is neutral in nearest term. Immediate support at 129.70. A clear break below that area could trigger further bearish pressure testing 129.00 but only a clear break below 128.20 could stop the falling wedge bullish scenario.

AUDUSD Forecast

The AUDUSD had a bearish momentum yesterday but still unable to make a clear break below the neckline of the H&S formation around 1.0670 so far as you can see on my h4 chart below. The bias is bearish in nearest term especially if price able to make a clear break below 1.0670 testing 1.0600 – 1.0500 support area. On the upside, only a movement back above 1.0770 would cancel the H&S bearish scenario aiming for 1.0877 even retesting all time high 1.1010.

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