EURJPY Forecast

The EURJPY attempted to push higher yesterday, topped at 122.27 but whipsawed to the downside and closed at 119.26. On h1 chart below we can see that the minor bullish channel has been violated to the downside indicating potential end to the bullish correction especially if price able to break below 118.35 area targeting 117.50 before re-testing 113.62 and 110.66. Immediate resistance at 120.15 region. Break above that area could lead us into no trading zone as direction would become unclear.

GBPJPY Forecast

The GBPJPY attempted to push higher yesterday, but as you can see on my daily chart below the trendline resistance (former support) did a good job preventing further upside pressure, keep the bearish scenario intact. Immediate support at 137.50. Consistent move below that area could trigger further bearish pressure towards 135.50 before re-testing 129.89 region. Initial resistance at 139.40 area. Break above that area could lead us into no trading zone as direction would become unclear.

AUDUSD Forecast

The AUDUSD didn’t make significant movement yesterday. On h1 chart below we can see that price still move inside the minor bullish channel indicating the bullish correction scenario remains intact but seems to lack of momentum. The bias is neutral in nearest term and I think we are in no trading zone for now. Immediate support 0.8950. Break below that area could trigger further bearish pressure testing 0.8880 region. Initial resistance at 0.9100 – 0.9150 area.

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