EURJPY Forecast

The EURJPY made another volatile but indecisive movement on Friday. The bias remains neutral in nearest term and there are no changes in my daily technical outlook. I still prefer a bearish scenario at this phase since the violation to the bullish channel cancelled the bullish outlook but would need a clear break below 113.40 to continue the bearish scenario and reactivate my bearish mode testing 112.00 area. Immediate resistance at 115.00/50. Only a clear break above that area could be a threat to the bearish intraday outlook.

GBPJPY  Forecast

The GBPJPY continued its bearish momentum on Friday and now moving consistently below 130.20 support area suggests further bearish continuation scenario testing 127.77 and 125.95 this week. On the upside, only a clear break back above 130.20 could be a threat to the current bearish intraday outlook and would activate my wait and see mode as direction would become unclear.

AUDUSD Forecast

The AUDUSD rebounded higher on Friday after unable to break below 1.0500 strong support area but we had another downside pressure earlier today in Asian session retesting 1.0500. The bias is bearish in nearest term. Overall we are still in a bearish outlook since the fall from all time high 1.1010 but price has been moving in a sideways condition for more than a month now, trapped in range area of 1.0770 – 1.0500 and need a clear break on either side to see clearer direction. I still prefer a bearish scenario and expecting a clear break below 1.0500 testing 1.0388 and 1.0200. Immediate resistance at 1.0600. A clear break above that area would keep price in this sideways condition retesting 1.0700/70 area.

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