EURJPY Forecast

The EURJPY had a significant bullish momentum on Friday, topped at 123.32 and closed at 123.05. This fact should trigger further bullish momentum, but as you can see on h4 chart below we have a good technical resistance around the trendline. We need a clear break above the trendline to continue the bullish scenario targeting 125.15 area. Note that the major trend remains bearish and the current bullish momentum is just a corrective move. Immediate support at 122.80 area. Break below that area should trigger further bearish momentum testing 121.70 area and diminish the bullish correction scenario.

GBPJPY Forecast

The GBPJPY had a significant bullish momentum on Friday, topped at 137.03 and closed at 136.81. The bias is bullish in nearest term but as you can see on my h4 chart below we have a good resistance around the trendline resistance area. We need a break above the trendline to continue the bullish momentum targeting 139.50 area. Also note that the current bullish momentum is just a corrective move while the main trend should remains bearish. Immediate support at 136.50. Break below that area should trigger further bearish momentum testing 134.70 and could be a potential threat to the bullish correction scenario.

AUDUSD Forecast

The AUDUSD had a bullish momentum on Friday, topped at 0.9092 and closed at 0.9079. The fact that price is now convincingly stay above 0.9040 area should trigger further bullish momentum targeting 0.9140 – -0.9180 area. Another movement back below 0.9040 area should lead us into no trading zone as direction would become unclear for me.