EURJPY Forecast

The EURJPY had a significant bearish momentum yesterday, broke below the range area and hit 111.66 earlier today in Asian session. This fact is a part of the bearish scenario triggered by a false breakout above the trend line resistance as you can see on my daily chart below and could trigger further bearish continuation testing 111.04, 109.45 even 106.57 support levels. Immediate resistance is seen around 112.40. A clear break above that area would lead us to neutral zone in nearest term but as long as price moves below 113.40 my intraday bias remains strongly to the downside.

GBPJPY  Forecast

The GBPJPY had a significant bearish momentum yesterday, broke below the trend line support and 129.00 and hit 127.09 earlier today in Asian session. This fact cancels the falling wedge bullish scenario and could trigger further bearish continuation testing 125.95 region. The bias is bearish in both nearest and medium term. Immediate resistance is seen around 127.77. A clear break above that area could lead us to neutral zone in nearest term but as long as price stays below 129.00 my overall bias remains strongly to the downside.

AUDUSD Forecast

The AUDUSD had a significant bearish momentum yesterday, fell below 1.0650 and hit 1.0577 earlier today in Asian session. This fact confirms the double top bearish scenario testing 1.0500 – 1.0388 support area. On the upside, another move back above 1.0650 would lead us to neutral zone as direction would become unclear and activate my wait and see mode. I still prefer a bearish scenario at this phase as I see the current bearish momentum as a part of a bearish correction scenario after hit the all time high 1.1010.

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