Daily Forecast for Crosses: March 01

By @ibtimes on

EURJPY Forecast

The EURJPY had a bullish momentum yesterday after failed to make a clear break below 112.08 support area and continue to move higher earlier today in Asian session hit 113.57. The bias is bullish in nearest term testing 114.00 key resistance area but note that as long as price stays below 114.00 the h4 chart/medium outlook remains sideways between 110.80 – 114.00. Immediate support at 113.00. A clear break below that area would lead us to neutral zone in nearest term retesting 112.08 but overall I still prefer a bullish scenario, especially if price able to make a clear break above 114.00 targeting 114.90 and 115.65.

GBPJPY  Forecast

The GBPJPY had a significant bullish pullback yesterday, made a strong breakout above 132.50 as you can see on my h4 chart below. The bias is bullish in nearest term testing 134.20. A clear break above that area would continue the upside pressure retesting 135.50. On the downside, only a clear break back below 132.50 would continue the bearish pressure testing 131.00 – 130.50 support area.

AUDUSD Forecast

The AUDUSD still able to maintain its bullish intraday bias yesterday but so far the bullish momentum still limited and price still struggling around the trend line resistance (white) as you can see on my daily chart below. We are still in a strong bullish outlook, aiming for new all time highs, but note that the current all time high at 1.0256 can be a strong resistance. Immediate support at 1.0150. A clear break below that area would lead us to neutral zone in nearest term testing 1.0100 – 1.0070 support area.

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