EURJPY Forecast

The EURJPY attempted to push lower yesterday, slipped below the trendline support but unable to move below the trendline support so far. The bias is neutral in nearest term. On another perspective, as you can see on my h4 chart below, price is moving inside a triangle area after a bearish rally indicating consolidation. We need a clear break from the triangle to see clearer direction. Consistent move below the lower line (which is also the trendline support) could resume the major bearish scenario testing 108.07 area. Immediate resistance at 110.70 area. Consistent move above that area could trigger further upside pressure towards 111.70 region before testing the upper line of the triangle.

GBPJPY Forecast

The GBPJPY made another insignificant movement yesterday. The bias is neutral in nearest term. On h4 chart below we can see that price is now struggling around the lower line of the bullish channel and the ascending triangle indicating critical technical point. The bullish momentum is waning but we need a consistent move below the bullish channel and the ascending triangle to confirm bullish failure and resume the major bearish scenario at least testing 130.50 area.

AUDUSD Forecast

The AUDUSD continue to push lower yesterday after failed to move above 0.8858 on Monday. The bias is neutral in nearest term but the bullish scenario should remain intact as long as price stay above 0.8550 region. Immediate resistance at 0.8730 area. Break above that area and the minor trendline resistance (red) could trigger further upside pressure testing 0.8950 and 0.9100 in longer term. On the other hand, break below 0.8550 could be a serious threat to the bullish scenario.

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