EURJPY Forecast

The EURJPY had a significant bearish momentum yesterday, broke and closed below 106.50. The bias is bearish in nearest term testing 104.50 and the trend line support (red) as you can see on my daily chart below. However the bullish scenario since bounced from 97.02 and the breakout above the trend line resistance (white) should remain intact and the current bearish momentum should be seen just as a corrective movement. Immediate resistance is seen around 106.50 (former support). A clear break above that area could lead price to neutral zone in nearest term testing 107.00 but need a clear break and daily close at least above 107.85 to end the current bearish correction phase and continue the bullish scenario.

GBPJPY  Forecast

The GBPJPY had a strong bearish momentum yesterday, broke below 128.00 and bottomed at 126.52. The bias is bearish in nearest term testing 125.50 key support area but note that the current bearish momentum should be seen just as a corrective movement. A clear break and daily close below 125.50 could postpone the bullish scenario since the breakout above the trend line resistance. Immediate resistance is seen around 128.00 (former support). A clear break and daily close above that area could end the current bearish correction phase still testing 130.82.

AUDUSD Forecast

The AUDUSD had a significant bearish momentum yesterday, broke below the range area as you can see on my daily chart below and hit 1.0508 earlier today. The bias is bearish in nearest term testing 1.0400 support area. From a longer term perspective, the breakdown below the range area could signal a major bearish reversal scenario. Immediate resistance is seen around 1.0600. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

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