Daily Forecast for Crosses: November 09

By @ibtimes on

EURJPY Forecast

The EURJPY didn’t make significant movement yesterday, still trapped in range area of 108.00/15 – 106.50 as you can see on my h4 chart below. There are no changes in my daily technical outlook. The bias remains neutral in nearest term. Overall price is still in a bullish phase since bounced from 100.74 but need a clear break and daily close above 108.00/15 to continue the bullish scenario testing 109.23 even higher. On the downside, a clear break and daily close back below 106.50 would postpone the bullish scenario testing 104.95 support area. I will stand aside for now and hoping for a trending market soon.

GBPJPY  Forecast

The GBPJPY didn’t make significant movement yesterday. There are no changes in my daily technical outlook. The bias remains neutral in nearest term. Overall price is still in a double bottom bullish scenario but need a clear break and daily close above 125.50 to continue the bullish phase testing 126.79 – 127.28 area. Immediate support remains around 124.00. A clear break and daily close below that area could trigger further bearish pressure testing 122.62 and postpone the double bottom bullish reversal scenario. I will stand aside for now and hoping for a trending market soon.

AUDUSD Forecast

The AUDUSD had another volatile but indecisive movement yesterday. There are no changes in my daily technical outlook and price is still trapped in range area of 1.0440 – 1.0200. The bias remains neutral in nearest term. I still prefer a bearish intraday scenario at this phase, even looking for a bigger bearish move below 1.0110 as a part of the bearish scenario after failed to test 1.0800. However, a clear break and daily close above 1.0400/50 could turn my intraday bias back to a bullish view. Short around 1.0440/50 seems to be a good plan for me at this phase, with a tight stop loss.

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