EURJPY Forecast

As you can see in my daily chart below, the lower line of the bullish channel did a good job preventing further bearish pressure and keep the bullish scenario intact. The bias is neutral in nearest term as we haven’t see significant bullish momentum so far. Immediate resistance at 125.65. Break above that area could trigger further bullish momentum targeting 126.50 region. Initial support at 124.66 (current low). Break below that area could trigger further downside pressure re-testing the lower line of the bullish channel once again.

GBPJPY Forecast

The GBPJPY was indecisive yesterday but had some bullish momentum earlier today in Asian session, traded around 144.70 at the time I wrote this comment. The major bullish scenario remains intact but we need a break above 145.95 area to continue the bullish scenario. Immediate resistance at 145.00. Break above that area could trigger further bullish momentum testing 145.95. Initial support at 144.02 (current low). Break below that area could trigger further bearish pressure testing 143.00 region.

AUDUSD Forecast

The AUDUSD had a moderate bullish momentum yesterday. As you can see on my daily chart below price still trapped in triangle formation. I think we are still in no trading zone in nearest term but the major bullish scenario should remain intact. We need a clear break from the triangle area to see clearer direction. Immediate resistance at 0.9330. Break above that area could trigger further bullish momentum targeting 0.9381 0.9404 region. Initial support at 0.9190. Break below that area could trigger further bearish pressure testing 0.9150/00 area.

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