EURJPY Forecast

The EURJPY attempted to push higher yesterday, slipped above the triangle but failed to maintain its bullish momentum and now back moving inside the triangle. This fact could produce a false breakout scenario which could trigger significant bearish pressure especially if price make a break below the triangle, end the bullish correction phase at least targeting 110.66 and 109.75  region.  Immediate resistance at 112.80 – 113.00 area. Break above that area could trigger further bullish momentum testing 114.50 area.

GBPJPY  Forecast

The GBPJPY attempted to push higher yesterday, slipped above the minor trendline resistance but failed to maintain its bullish momentum and now back below the trendine resistance. The bias remains neutral in nearest term but this fact could produce a false breakout scenario which could trigger bearish pressure testing the lower line of the bullish channel.  Note that we are still in bullish correction phase and need a movement below the bullish channel to end the bullish correction phase. Immediate support at 133.20 area. Initial resistance at 136.00 (yesterday’s high).

AUDUSD Forecast

The AUDUSD failed to continue its bullish momentum yesterday. The bias is neutral in nearest term but overall we are still in bullish phase as long as price move above 0.8550 region. Immediate support at 0.8710. Break below that area could trigger further bearish pressure testing 0.8550 and could be a serious threat to the bullish scenario.  Initial resistance at 0.8858 (yesterday’s high). Break above that area could trigger further bullish momentum testing 0.8950 even 0.9100 area in longer term.

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