Daily Forecast for Crosses: July 15

By @ibtimes on

EURJPY Forecast

The EURJPY continued its bearish bias yesterday, bottomed at 111.62 and closed at 111.86. This fact keeps the bearish intraday outlook remains strong especially if price able to make a clear break below 111.20 retesting 109.45 region. Immediate resistance is seen at 112.20 area. A clear break above that area could trigger further bullish correction testing 113.40, but as long as price stays below 113.40 my overall technical bias remains to the downside.

GBPJPY  Forecast

The GBPJPY was indecisive yesterday and now struggling around 127.77 key resistance area as you can see on my daily chart below. The bias is neutral in nearest term. I still prefer a bearish scenario at this phase and 127.77 remains a good place for a short intraday position with a tight stop loss above 128.18 (yesterday’s high) as a clear break above that area would be a threat to the current strong bearish intraday outlook  testing 129.00/40 region and the trend line resistance (red). On the downside, immediate support is seen around 126.78. A clear break below that area could trigger further bearish pressure testing 125.95.

AUDUSD Forecast

The AUDUSD made another failure to make a clear break above 1.0770/90 resistance area yesterday and whipsawed to the downside, hit 1.0627 earlier today in Asian session. The bias is bearish in nearest term testing 1.0582/00 but note that overall price is still in a sideways condition since hit the all time high at 1.1010 as you can see on my daily chart below and need a clear break on either side to see clearer direction.

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