EURJPY Forecast

The EURJPY had a bearish momentum yesterday. The pair bottomed at 132.48 and closed at 132.91. The bias is bearish in nearest term. On h4 chart below we can see that the pair is at critical phase, testing the trendline support. Break below the trendline support should trigger further bearish momentum targeting 130.70 area. Immediate resistance is seen at 133.15. Break above that area should lead us into no trading zone. CCI just cross the -100 line down on daily chart suggesting potential downside pressure.

GBPJPY Forecast

After corrected higher on Friday, the GBPJPY continued it’s bearish momentum yesterday. On daily chart below we have descending triangle formation indicating potential bearish scenario with 154.90 as key support level. Break below that area should trigger further bearish momentum testing 151.70 and the trendline support area. Immediate resistance is seen at 156.40 followed by 157.05. CCI just cross the -100 line down on h4 chart suggesting potential downside pressure.

AUDUSD Forecast

The AUDUSD had significant bearish momentum yesterday. The pair bottomed at 0.7850 and closed at 0.7855. On Fibonacci retracement study (of 0.6280 – 0.8261) at daily chart below we can see that the pair is now testing 23.6% support area around 0.7800 which should be a key support level at this phase. Break below that area should trigger further bearish momentum targeting  0.7700 area. Immediate resistance is seen at 0.7930. Break above that area should lead us into no trading zone.