EURJPY Forecast

The EURJPY had a bullish momentum yesterday, but still trapped in range area of 114.50 – 108.83. We have seen some significant upside pressure since rejection to move below 108.83 area so the nearest bias could be more to the upside testing 114.50 region at this phase. However, as long as price move below 114.50, the major bearish scenario remains intact but only a break below 108.83 could resume the bearish scenario.

GBPJPY Forecast

The GBPJPY had a moderate bullish momentum yesterday. The bias remains to the upside in short – medium term with 136.75 as nearest term bullish target before testing 139.50 region. Immediate support at 134.00 area. Break below that area could trigger further downside pullback testing 133.20 but as long as price still move inside the bullish channel the main scenario remains to the upside.

AUDUSD Forecast

The AUDUSD had a moderate bullish momentum yesterday. The bias is neutral both in short – medium term but the rejection to move below 0.8070 area could trigger further upside pressure at this phase. On h4 chart below we also see that price break above the minor trendline resistance indicating potential upside pressure testing 0.8550 region. I have made adjustment to the lower line support where 0.8360 is no longer a key support area, replaced by 0.8275. Only a movement below 0.8275 could trigger further downside pressure re-testing 0.8070 region.

Related Posts:

  • Daily Forecast for Crosses: March 03
  • Daily Forecast for Crosses: May 27
  • Daily Forecast for Crosses: May 26
  • Daily Forecast for Crosses: June 01
  • Daily Forecast for Crosses: May 25
  • ©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

    .