EURJPY Forecast

The EURJPY was able to maintain its bearish intraday bias on Friday. The bias is bearish in nearest term but until price makes a clear break below 113.40 further bearish continuation scenario can not be confirmed. Aggressive intraday traders can still long around 113.40 with tight stop loss as a clear break below that area would continue the bearish scenario and reactivate my bearish mode at least testing 112.50 region. Immediate resistance at 114.70 – 115.00. A clear break above that area would lead us to neutral zone in nearest term testing 115.80 – 116.00 area but overall I still prefer a bearish scenario at this phase.

GBPJPY  Forecast

The GBPJPY continued its bearish bias on Friday bottomed at 128.22 but rebounded higher earlier today in Asian session and hit 128.86. The bias is neutral in nearest term but overall my intraday bias remains to the downside still targeting 127.77 and 125.95. CCI slipped above 100 level on hourly chart suggests potential upside pullback especially if price able to make a clear break above 128.86 testing 129.50 – 130.20 but any upside pullback now is normal and should be considered only as a counter trend/corrective movement. Immediate support at 128.31 (current low). A clear break below that area would change the intraday bias back to bearish testing 127.77 in nearest term before targeting 125.95.

AUDUSD Forecast

The AUDUSD continued its bearish momentum earlier today in Asian session, broke below the range and hit 1.0417. This fact confirms the bearish continuation scenario since the fall from all time high 1.1010 and after more than a month of sideways movement, testing 1.0388 and 1.0200 support area. Immediate resistance at 1.0500. A clear break back above that area could lead us to neutral zone in nearest term as direction would become unclear and would reactivate my wait and see mode.

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