EURJPY Forecast

The EURJPY attempted to push lower yesterday, slipped below 103.39 but closed higher at 103.73 and hit 104.31 earlier today in Asian session. The bias remains neutral in nearest term. Immediate resistance remains around 104.20/40. A clear break above that area could trigger further bullish pressure testing 104.95 but as long as stays below 104.95 I still prefer a bearish intraday scenario at this phase with short on rallies strategy. On the downside, we still need a clear break and daily close below 103.39 to continue the bearish scenario testing 102.20 – 100.74 area.

GBPJPY  Forecast

The GBPJPY continued its bearish momentum yesterday, bottomed at 120.02 but corrected higher earlier today in Asian session hit 120.92. The bias is neutral in nearest term but my overall intraday bias remains to the downside especially if price able to make a clear break below 120.00 targeting 119.00 even testing the double bottom around 116.90. Immediate resistance is seen around 121.00. A clear break above that area could trigger further upside pullback but as long as stays below 122.62 I still prefer a bearish intraday scenario with short on rallies strategy.

AUDUSD Forecast

The AUDUSD continued its bearish momentum yesterday, after a clear break below 0.9925 bottomed at 0.9807 but corrected higher earlier today in Asian session hit 0.9887. The bias remains bearish in nearest term especially if price able to make a clear break and daily close below 0.9800 testing 0.9700 – 0.9620 area. Immediate resistance is seen around 0.9925 (former support). A clear break above that area could lead price to a neutral zone in nearest term but any upside pullback now is normal and only a movement at least back above 1.0000 would diminish the current strong bearish intraday outlook.

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