EURJPY Forecast

The EURJPY failed to continued it’s bearish momentum yesterday. The pair attempted to push lower, bottomed at 131.42 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 134.37 and closed at 134.02. On h4 chart below we can see that this was a case of false breakdown and we have to assume that the trendline support did a good job preventing further bearish attack. The bias is neutral in both nearest and medium term. Immediate resistance is seen at 135.35. Initial support at 132.50. CCI in neutral area on h4 chart. 

GBPJPY Forecast

The GBPJPY had indecisive movement yesterday, formed a Doji formation on daily chart. The pair attempted to push lower yesterday, bottomed at 154.06 but further bearish scenario was rejected as the pair closed higher at 156.62. I think we are now in no trading zone and it’s better to wait for further development. Immediate resistance is seen at 156.90. Break above that area should trigger further upside pressure. Initial support at 155.80. CCI in neutral area on h4 chart.

AUDUSD Forecast

The AUDUSD failed to continued it’s bearish scenario yesterday. On daily chart below we can see that the 23.6% Fibo retracement ( of 0.6280 – 0.8261 ) support area around 0.7800 did a good job preventing the pair from further bearish attack. The bias is bullish in nearest term targeting 0.8050 area. Immediate support is seen at 0.7905. Break below that area should lead us into no trading zone. CCI in neutral area on h4 chart.