EURJPY Forecast

The EURJPY failed to continue its bullish momentum yesterday, bottomed at 123.32 and closed at 123.72. The bias is bearish in nearest term but the bullish scenario should remain intact as long as price still move inside the bullish channel. A violation to the bearish channel and a break below 123.00 area should be seen as bullish failure and trigger further bearish momentum targeting 121.70 area. Immediate resistance at 124.20 area. Break above that area should trigger further upside momentum re-testing 125.15 area and keep the bullish scenario intact.

GBPJPY Forecast

The GBPJPY failed to continue its bullish momentum yesterday, bottomed at 135.80 and closed at 136.17. The bias is bearish in nearest term but as long as price move inside the bullish channel the bullish scenario remains intact. A violation to the bullish channel should be seen as bullish failure and could trigger further bearish scenario re-testing 132.50/00 area. Immediate resistance at 136.50 area. Break above that area could trigger further upside momentum testing 138.30 area and keep the bullish scenario intact.

AUDUSD Forecast

The AUDUSD attempted to push lower yesterday, bottomed at 0.9095 but closed higher at 0.9136. The bias is neutral in nearest term. The bearish correction scenario triggered by the double top formation remains intact but the major bullish outlook remains valid as long as price stay above the major trendline support (red) but we need a clear break above 0.9190 area to continue the bullish scenario targeting 0.9250 and 0.9326 area. Immediate support at 0.9100 followed by 0.9040.