EURJPY Forecast

The EURJPY continued its strong bearish momentum yesterday broke below 102.20 and bottomed at 100.74. The bias remains bearish in nearest term still testing 100.08 support area (May 2001 low). Immediate resistance is seen around 101.80. A clear break above that area could lead price to neutral zone in nearest term but as long as price stays below 102.20 my overall intraday bias remains strongly to the downside and any upside pullback now is normal and should be seen as a corrective movement.

GBPJPY  Forecast

The GBPJPY had a strong bearish momentum yesterday, bottomed at 118.01 and now struggling around 118.50/35 area. The bias is bearish in nearest term testing 117.70 even retesting record low at 116.82 as a part of the bearish continuation scenario since formed a double top around 120.80 and the violation to the bullish channel as you can see on my hourly chart below. Immediate resistance is seen around 119.00. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

AUDUSD Forecast

The AUDUSD continued its bearish momentum yesterday, bottomed at 0.9496 and hit 0.9454 earlier today in Asian session. The bias remains bearish in nearest term testing 0.9400 support area as a bearish continuation scenario after a clear break below 0.9700 support area. Immediate resistance is seen around 0.9550. A clear break above that area could lead price to neutral zone in nearest term but as long as price stays below 0.9700 I still prefer a bearish scenario at this phase.

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