EURJPY Forecast

The EURJPY had a significant bearish momentum yesterday and now testing 104.95/75 key support area. The bias is bearish in nearest term especially if price able to make a clear break below 104.95 /75 testing 103.75 even lower. Immediate resistance is seen around 105.50. A clear break above that area would lead price to a neutral zone in nearest term testing 106.50 area and keep price in the sideways outlook.

GBPJPY  Forecast

The GBPJPY had significant bearish momentum yesterday, slipped below 122.62 and hit 122.31. The bias is bearish in nearest term testing 120.50 especially if price able to make a clear break below 122.31. However note that my double bottom bullish reversal scenario remains valid and price is now in a normal consolidation phase. Immediate resistance is seen around 123.10 (current high). A clear break above that area could lead price to a neutral zone in nearest term testing 124.00 area but we need a clear break at least above 125.50 to continue the double bottom bullish reversal scenario.

AUDUSD Forecast

The AUDUSD had a significant bearish momentum yesterday and now traded below 1.0200, hit 1.0159 earlier today in Asian session. The bias is bearish in nearest term testing 1.0100 – 1.0000 area before testing 0.9925. Immediate resistance is seen around 1.0200/25 area. A clear break back above that area would lead price to neutral zone in nearest term testing 1.0300 but as long as stays below 1.0440 my overall technical bias remains to the downside.

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