EURJPY Forecast

The EURJPY continued its bullish intraday bias yesterday, topped at 117.22 and traded around 116.95 at the time I wrote this comment. The bias remains bullish in nearest term still testing 117.58. A clear break above that area could trigger further bullish scenario testing 118.50. Immediate support at 116.50. A clear break below that area would lead us to neutral zone in nearest term but as long as price moves above 116.00 – 115.80 I still prefer a bullish intraday outlook.

GBPJPY  Forecast

The GBPJPY had a moderate bullish momentum yesterday but 132.97 – 133.16 resistance area still hold so far. On h4 chart below we can see price slipped above the trend line resistance suggests a threat to the bearish outlook especially if price able to make a clear break above 133.16 testing 134.00. Immediate support at 132.00. A clear break below that area could trigger further bearish pressure testing 131.50 – 130.75 but my bearish mode will be reactivate only by a clear break below 130.20. Aggressive intraday traders may short around 132.97 – 133.16 with tight stop loss.

AUDUSD Forecast

The AUDUSD continued its bullish intraday bias yesterday, topped at 1.0679 and closed at 1.0668 after found a support around 1.0600 – 1.0570. The bias remains bullish in nearest term testing 1.0770. Immediate support remains around 1.0600 – 1.0570. A clear break below that area could trigger further bearish pressure testing 1.0500 support area. My daily chart bearish outlook since the fall from historical high at 1.1010 remains valid as price still moves below the trend line resistance and I am still interested to open a short position around the trend line resistance and 1.0770 due to a good risk – reward ratio.

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