EURJPY Forecast

The EURJPY had a significant bearish momentum on Friday but found a support at the lower line of my bullish channel as you can see on my h4 chart below. The bias is bearish in nearest term especially if price able to make a clear break below the bullish channel and 115.00 targeting 114.00. Immediate resistance at 116.00. A clear break above that area would lead us to neutral zone in nearest term testing 116.50 – 117.00 but would keep the bullish scenario intact as the bullish channel would remain valid.

GBPJPY  Forecast

The GBPJPY had a bearish momentum on Friday, slipped below 130.20 but bounced higher earlier today in Asian session and hit 130.90. The bias is neutral in nearest term but overall price is still in a bearish intraday outlook since the break below the bullish channel. On my h4 chart below we can see price actually has been moving in a range area of 135.15 -  130.20 since May 03 and need a consistent move below 130.20 to continue its bearish scenario at least testing 129.00 – 128.00. Immediate resistance at 131.50. A clear break above that area could change the intraday bias to bullish testing 132.50 but would keep price inside the range area. I am expecting a clear break below 130.20 to activate my bearish mode.

AUDUSD Forecast

The AUDUSD had a significant bearish momentum on Friday on a broad US Dollar strength. On my h4 chart below we can see a descending triangle formation has been broken to the downside suggests potential further bearish outlook testing 1.0500 even 1.0388. At the same time price also broke below the trend line support (white) supporting the bearish outlook. Immediate resistance at 1.0600 – 1.0650. I don’t expect any movement above that area for now as it could stop the current bearish intraday bias.

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