EURJPY Forecast

The EURJPY attempted to push lower yesterday, bottomed at 108.83 but whipsawed to the upside and closed higher at 111.37. The bias is neutral in nearest term but as long as price still move inside the bearish channel the main scenario remains bearish. Another movement below 110.66 could trigger another downside attempt testing 109.53 and 108.53 area. Immediate resistance at 112.30. Break above that area could trigger further bullish momentum testing the bearish channel.

GBPJPY Forecast

The GBPJPY was indecisive yesterday, moving in a volatile market. However there are no significant technical movement so far as  price still trapped in range area of 130.80 – 128.00. The nearest bias is neutral but still in the context of major bearish scenario unless price make a breakout above the range area. We need a consistent move below 128.00 could resume the major bearish scenario testing 126.75 region.  On the other hand, a break above 130.80 could trigger further upside correction testing 132.80 region. Aggressive traders may short around 130.80 or long around 128.00 with tight stop loss.

AUDUSD Forecast

The AUDUSD attempted to push lower yesterday, bottomed at 0.8066 but whipsawed to the upside and closed higher at 0.8276 in a high volatile market. The main scenario remains bearish but as you can see on my h4 chart below price still trapped in range area of 0.8360 – 0.8070 and need a clear break from that area to see clearer direction. Break above 0.8360 could be a serious threat to the bearish scenario testing at least 0.8500 while a break below 0.8070 could resume the major bearish scenario testing 0.8000 psychological level even lower but note that all psychological levels tend to be a strong support.

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