EURJPY Forecast

The EURJPY failed to continue its bearish bias yesterday and now traded above 116.00 resistance area. The bias is bullish in nearest term especially if price able to make a clear break above the minor trend line resistance (red) and 116.88 testing 117.50 even 119.25 resistance area. However, as long as price moves below the major trend line resistance (white) the bearish scenario since the fall from 123.31 should remain intact. On the downside, another move back below 116.00 would keep the bearish scenario remains strong testing 114.00 support area.

GBPJPY  Forecast

The GBPJPY had a bullish momentum yesterday on broad Yen weakness but still trapped in the range area. There are no changes in my daily technical outlook and as long as price stays below 132.97 I still prefer a bearish scenario at this phase. A clear break above 132.97 could trigger further bullish pressure testing 134.00. Immediate support at 131.50 followed by 130.20.

AUDUSD Forecast

The AUDUSD continued its bullish momentum yesterday and now seems ready to test 1.0877 resistance area. The bias is bullish in nearest term especially if price able to make a clear break above 1.0877 targeting 1.1010 which could end the bearish correction phase after the failure to make a clear break below 1.0581, aiming for another new historical high projection. Immediate support at 1.0770. A clear break below that area would change the intraday bias to bearish retesting 1.0581 key support area and keep the bearish correction outlook intact.

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