EURJPY Forecast

The EURJPY made another indecisive movement yesterday. The bias is neutral in nearest term. On h4 chart below we can see that so far trapped in range area of 121.70 – 119.70. I think the best strategy is to short around 121.70 or to long around 119.70 with tight stop loss. In longer term view, the bearish scenario remains intact.

GBPJPY Forecast

The GBPJPY also indecisive yesterday. The bias is neutral in nearest term. On h4 chart below we can see that price so far trapped in range area of 134.70 – 132.00 this week and I think the best strategy is to short around 134.70 or long around 132.00 with a tight stop loss. In longer term perspective, the trend remains bearish.

AUDUSD Forecast

The AUDUSD failed to keep its bullish momentum yesterday and now traded below 0.9040 area indicating potential false breakout scenario which could lead to a significant bearish momentum targeting 0.8910 and the trendline support area (red). The bias is bearish in nearest term but remains unclear in medium term as price seems to be in consolidation phase. Immediate resistance at 0.9040. Break above that area should keep the bullish scenario intact targeting 0.9140.