Daily Forecast for Crosses: March 17

The EURJPY had a moderate bullish momentum yesterday. This fact should keep the bullish scenario intact as price still convincingly move inside the bullish channel re-testing 125.15 area. Break above that area should trigger further bullish momentum testing 126.90 area. Immediate support at 123.70 followed by 123.00. Break below 123.00 could be a serious threat to the bullish scenario back towards 121.70 area.

GBPJPY Forecast

The GBPJPY had a bullish momentum yesterday as the lower line of the bullish channel provided good support area. This fact should keep the bullish scenario intact testing 138.30 area. Break above that area should trigger further bullish momentum targeting 141.50 this week. Immediate support at 137.00. Break below that area should lead us into no trading zone but as long as price still move inside the bullish channel I still prefer a bullish scenario.

AUDUSD Forecast

The AUDUSD had a significant bullish momentum yesterday, slipped above the double top formation, topped at 0.9216 but still unable to move consistently above the double top area (0.9190) so far. The bias is bullish in nearest term but we need a consistent move above 0.9190 to continue bullish momentum targeting 0.9250 and 0.9326 region. Immediate support at 0.9140. Break below that area should trigger further bearish momentum testing 0.9040 but as long as price move above the major trendline support I still prefer a bullish scenario.