EURJPY Forecast

The EURJPY was volatile but indecisive last week. The bias is neutral in nearest term but overall I still prefer a bullish scenario at this phase as long as stays above the trend line support (red). Immediate resistance is seen around 110.00. A clear break above that area could trigger further bullish pressure retesting 111.58 key resistance area. Immediate support is seen around 109.50. A clear break below that area could trigger further bearish pressure testing 109.00 – 108.50 support area.

GBPJPY  Forecast

The GBPJPY was volatile but indecisive last week. Price attempted to push lower but found a good support around 130.00. The bias is neutral in nearest term but as long as stays above 130.00 I still prefer a bullish intraday scenario at this phase. Immediate resistance is seen around 131.50. A clear break above that area could trigger further bullish pressure testing 132.27/50 area and keep the bullish scenario remains strong. On the downside, a clear break and daily close below 130.00 would activate my wait and see mode but overall I still prefer a bullish scenario after the break above the trend line resistance as you can see on my daily chart below.

AUDUSD Forecast

The AUDUSD attempted to push lower last week, bottomed at 1.0335 but closed higher at 1.0465. The bias is neutral in nearest term but overall as long as stays below 1.0600 I still prefer to short on rallies expecting further bearish reversal scenario. Immediate resistance is seen around 1.0500. A clear break above that area could trigger further bullish pullback testing 1.0600. Immediate support is seen around 1.0420. A clear break back below that area could trigger further bearish pressure testing 1.0335 and keep the bearish scenario remains strong.

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