EURJPY Forecast

The EURJPY was indecisive yesterday. The bias is neutral in nearest term but overall I still prefer a bullish intraday scenario at this phase with buy on dips strategy and only a clear break and daily close below 106.50 could postpone the bullish scenario and activate my wait and see mode. Immediate support is seen around 107.50. A clear break below that area could trigger further bearish pressure testing 107.00 – 106.50 support area. Immediate resistance is seen around 108.75. A clear break above that area could trigger further bullish momentum testing 119.23/73 area.

GBPJPY  Forecast

The GBPJPY continued its bullish momentum yesterday, topped at 129.60 but corrected lower earlier today hit 128.77. The bias is neutral in nearest term but overall as long as stays above 125.50 I still prefer a bullish intraday scenario at this phase with buy on dips strategy. Immediate support is seen around 128.50. A clear break below that area could trigger further bearish pullback testing 127.80 area. On the upside, another movement above 129.40/60 could continue the bullish scenario testing 130.82.

AUDUSD Forecast

The AUDUSD attempted to push higher yesterday, slipped above 1.0844 but whipsawed to the downside and closed at 1.0741. The bias is neutral in nearest term. Price is still moving sideways between 1.0844 – 1.0600 as you can see on my h4 chart below and need a clear break on either side to see clearer direction. The best intraday strategy is to sell around 1.0844 or buy around 1.0600 with tight stop loss, taking advantage of the current sideways condition. Overall I still prefer a bullish intraday scenario at this phase and only a clear break and daily close below 1.0600 will stop the bullish outlook and activate my bearish intraday mode.

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