EURJPY Forecast

The EURJPY was indecisive on Friday. The bias is neutral in nearest term but we are still in bullish correction phase with nearest upside target around 113.50 area. Immediate support at 110.85 and the lower line of the bullish channel. Only a break below the bullish channel could be a serious threat to the current upside correction scenario and may resume the major bearish trend.

GBPJPY  Forecast

The GBPJPY has been moving in unclear direction for more than four weeks now.  I think I will stay away for this pair until I see clearer direction. We may have a bullish correction scenario indicated by an ascending triangle as you can see on my daily chart below especially if price break above the triangle and take us out from this choppy market. Range area at 136.30 – 130.50.

AUDUSD Forecast

The AUDUSD was indecisive on Friday. Overall we are still in bullish outlook but the bias is neutral in nearest term.  CCI just cross the 100 line down on h4 chart indicating potential downside pullback which is normal after three consecutive days of strong bullish run. Immediate support at 0.8680 followed by 0.8630.  On the upside, initial resistance is seen at 0.8858 which is also the nearest bullish target.

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