EURJPY Forecast

The EURJPY didn’t make significant move yesterday but had a significant bullish momentum earlier today in Asian session, retesting 113.40 resistance area. The bias is bullish in nearest term but as long as price stays below 113.40 I still prefer a bearish scenario. Short around 113.40 seems to be a good intraday plan for now with a tight stop loss on a clear break above 113.40 as a clear break above 113.40 could trigger further bullish pressure testing the trend line resistance (white) and 114.75 region. Immediate support is seen around 112.50 and the trend line support (red). A clear break below that area could lead price to neutral zone in nearest term testing 111.45 and would reopen the door for another downside attempt retesting 109.45.

GBPJPY  Forecast

The GBPJPY made another indecisive movement yesterday. The bias remains neutral in nearest term and there are no changes in my daily technical outlook. Overall price has been moving in a sideways mode with no clear momentum and direction. However, price is still in a bullish intraday phase since the bullish pullback from 124.85, testing the trend line resistance, but as long as price stays below the trend line resistance the current bullish intraday phase should be seen just as a corrective movement. Immediate support remains around 127.00 followed by 126.60. Aggressive intraday traders can still activate their bearish intraday mode with a tight stop loss above 128.18/40. Immediate support remains around 127.00 followed by 126.60.  A clear break above 128.18/40 could trigger further bullish pullback testing the trend line resistance and 129.40 region.

AUDUSD Forecast

The AUDUSD was indecisive yesterday but had a significant bullish momentum earlier today in Asian session, broke above 1.0887 and hit 1.0923 on a broad US Dollar weakness. The bias is bullish in nearest term retesting 1.1010 historical high. On the downside, another movement back below 1.0887  could lead price to neutral zone in nearest term but only a break back below 1.0770 could stop the current strong bullish intraday outlook.

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