EURJPY Forecast

The EURJPY attempted to continue it’s bearish momentum on Friday, bottomed at 127.80 but further bearish pressure was limited as the the pair closed higher at 128.97. Earlier today in Asian market the pair continue to consolidate higher around 129.45 at the time I wrote this comment. The bias is neutral in nearest term but we have confirmation of H&S bearish scenario as shown on daily chart below. Immediate resistance is seen at 130.80 followed by 131.50. Initial support at 127.80 (Friday’s low) followed by 127.00.

GBPJPY Forecast

The GBPJPY attempted to push lower on Friday, bottomed at 148.33 but further downside scenario was rejected as the pair closed lower at 150.02. On h4 chart below we have triangle formation indicating consolidation after significant bearish momentum. I still prefer downside scenario as long as the pair stay above 153.00. Immediate resistance is seen at 151.00. Initial support at 148.33 (Friday’s low).

AUDUSD Forecast

The AUDUSD had a moderate bearish momentum on Friday, bottomed at 0.7737 but closed higher at 0.7785 and continue to consolidate higher earlier today in Asian session around 0.7815 at the time I wrote this comment. On daily chart below we can see that after hit 0.8261 on June 03, the pair has been consolidating lower. As long as 0.7710 support level hold, the medium term remains bullish. Break below that area should trigger further bearish momentum. Immediate resistance is seen at 0.7900.