EURJPY Forecast

The EURJPY attempted to push higher yesterday, slipped above 116.00 but closed lower at 115.62 and hit 115.03 earlier today in Asian session. There are no changes in my daily technical outlook. Price still moves in range area between 116.00 – 114.00 and aggressive intraday traders can still short around 116.00 or long around 114.00 with tight stop loss. A clear break above 116.00 could trigger further upside pullback testing 117.22 even testing the major trend line resistance (white). On the downside, a clear break below 114.00 could trigger further bearish scenario testing 112.05.

GBPJPY  Forecast

The GBPJPY had a bullish momentum yesterday and now testing 132.97 – 133.16 resistance area and the trend line resistance (blue) as you can see on my h4 chart below. Overall there are no changes in my daily technical outlook and price still trapped in range area of 132.97 – 130.20. The bias is bullish in nearest term but as long as price stays below 132.97 – 133.16 and the trend line resistance I still prefer a bearish scenario and 132.97 – 133.16 remains the best place for a short position due to a good risk –reward ratio there. A clear break above 133.16 could be a threat to the bearish outlook testing 134.00 region.

AUDUSD Forecast

The AUDUSD was corrected higher yesterday, topped at 1.0581 but traded lower earlier today in Asian session hit 1.0487. The bias is bearish in nearest term especially if price able to make a consistent move below 1.0500 testing 1.0388 before targeting 1.0200. Immediate resistance at 1.0559 (current high). A clear break above that area could lead us to neutral zone in nearest term testing 1.0625 – 1.0700  and the trend line resistance area. I still prefer a bearish intraday outlook at this phase and for me any upside pullback now is not only normal but give me a better price to short the pair on any rallies near the trend line resistance and 1.0700 area.

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