EURJPY Forecast

The EURJPY was indecisive yesterday but we had some bearish pressure earlier today in Asian session and price is now back below 113.50. The way I see it, it is a false breakout which potentially trigger a bearish pressure testing the trendline support (white) and 111.60/50 support area especially if price consistently move below 112.70/60 support area. However from a longer term perspective this fact lead us back into range and neutral area of 113.50 – 108.07.

GBPJPY Forecast

The GBPJPY had a bearish momentum yesterday, back below the range area and keep moving lower earlier today in Asian session. We have a false breakout scenario here which usually trigger a bearish pressure testing 133.70 area even could push price lower testing 130.50 in longer term. Only another movement above 136.30 could potentially continue the bullish correction scenario.

AUDUSD Forecast

The AUDUSD had a moderate bullish momentum yesterday, topped at 0.9042 and closed at 0.9003. The main scenario remains bullish but as long as we have the rising wedge formation I will keep out from the market. The rising wedge formation is a bearish warning that I don’t want to ignore. Immediate resistance which also the nearest term bullish targets is seen at 0.9070 and 0.9135 area. On the downside, initial support remains at 0.8858.

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