EURJPY Forecast

The EURJPY attempted to push higher yesterday, slipped above 102.00 but whipsawed to the downside, closed lower at 101.29 and hit 100.72 earlier today. The bias is bearish in nearest term testing 100.19/00 support area before testing 99.23. Immediate resistance is seen around 101.50. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 102.00 I still prefer to sell on rallies. One thing that should be noticed is that while the broad sentiment for the Euro is bearish, the sentiment for the Yen is mixed so the movement can be tricky.

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GBPJPY  Forecast

The GBPJPY was indecisive yesterday but had some bearish pressure earlier today and hit 125.24. The bias is bearish in nearest term especially if price able to make a clear break below 125.00 testing 124.62 before testing 123.25. Immediate resistance is seen around 125.80. A clear break back above that area could lead price to neutral zone in nearest term but as long as stays below 127.00 I still prefer to sell on rallies. One thing that should be noticed is that while the broad sentiment for the Cable is bearish, the sentiment for the Yen is mixed so the movement can be tricky.

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AUDUSD Forecast

The AUDUSD regained its bearish momentum yesterday, bottomed at 0.9760 and hit 0.9740 earlier today. The bias is bearish in nearest term testing 0.9662 area. Immediate resistance is seen around 0.9800. A clear break above that area could lead price to neutral zone in nearest term testing 0.9850/60 but any upside pullback now is normal and overall I still prefer a bearish scenario at this phase with sell on rallies strategy.

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