EURJPY Forecast

The EURJPY was volatile but indecisive last week. There were some downside pressures earlier today hit 107.50. The bias is bearish in nearest term testing 107.00 – 106.50 but note that as long as stays above the trend line support (red) the bullish scenario since bounced from 97.02 and broke above the trend line resistance (white) should remain intact. Immediate resistance is seen around 108.30. A clear break above that area could lead price to neutral zone in nearest term testing 109.00 area and would keep the bullish scenario remains strong.

GBPJPY  Forecast

The GBPJPY had another volatile but indecisive movement last week, made another Doji on weekly chart. The bias is neutral in nearest term. Immediate support is seen around 128.25/00. A clear break below that area could trigger further bearish pullback testing 127.50 but any downside correction now is normal and as long as stays above 125.50 the bullish scenario since the breakout above the trend line resistance should remain intact. Immediate resistance is seen around 129.50. A clear break above that area could trigger further bullish pressure and keep the bullish outlook remains strong testing 130.82.

AUDUSD Forecast

The AUDUSD had a significant bearish momentum last week and broke below 1.0600 key support area. This fact gives another chance for the bearish reversal scenario especially if price able to make a clear break below 1.0500 testing 1.0400 area in nearest term. Immediate resistance is seen around 1.0600. A clear break back above that area could lead price to neutral zone in nearest term and reactivate my wait and see mode as direction would become unclear.

 

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