EURJPY Forecast

The EURJPY continued its bullish momentum yesterday, topped at 100.32 but had a bearish pressure earlier today after BOJ decision to keep the benchmark interest rate and asset-purchased fund unchanged created a broad Yen strength, hit 99.52. The bias is bearish in nearest term testing 99.23/00 support area. A clear break and daily close below that area could trigger further bearish pressure testing 98.50/00 support area. Immediate resistance is seen around 100.00/30. A clear break back above that area will keep the bullish correction phase intact testing 101.00 – 102.20 resistance area.

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GBPJPY Forecast

The GBPJPY didn’t make significant movement yesterday but had a bearish pressure earlier today after BOJ decision to keep the benchmark interest rate and asset-purchased fund unchanged created a broad Yen strength, hit 122.45. The bias is bearish in nearest term testing 122.00. A clear break and daily close below that area could trigger further bearish pressure testing 120.40 region. Immediate resistance is seen around 123.00/05. A clear break above that area could lead price to neutral zone in nearest term and keep price in range area between 124.30 – 122.00 a little bit longer.

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AUDUSD Forecast

The AUDUSD continued its bullish correction yesterday, topped at 1.0032 and closed at 1.0008. The bias remains bullish in nearest term testing 1.0100 before testing 1.0200 as bullish correction target. Immediate support is seen around 0.9965. A clear break below that area could lead price to neutral zone in nearest term testing 0.9920/00 support area. Fundamental focus is on Greek legislative election on June 17, a battle between pro and anti bailout parties which likely to create high volatile market and we might have another big gap on Monday.

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