EURJPY Forecast

The EURJPY continued it’s moderate bearish momentum yesterday. We had a intense struggle around the trendline area (blue) where price cross up and down the trendline as a result of a high volatile market. As you can see on h4 chart below, the fact that price able to maintain position below the trendline indicating bearish view in nearest term remains intact. I don’t like volatile market and too many noises around, so I will stay out for now. Immediate resistance at 130.60. Break above that area should make the pair vulnerable for a further upside pressure re-testing 131.55 area. Initial support at 129.50/00 area.

GBPJPY Forecast

The GBPJPY attempted to push lower yesterday, bottomed at 139.69 but whipsawed to the upside and closed higher at 141.34. Technically we have a potential bullish correction/reversal warning showed by the double bottom formation around 139.71 area as you can see on my h4 chart below. I will not surprise if we see another bullish correction today. Immediate resistance at 142.00 area. Break above that area should trigger further bullish correction testing the trendline resistance area (blue). Break above that trendline could be a potential threat to my bearish outlook and might be the beginning of a bullish reversal outlook.

AUDUSD Forecast

The AUDUSD made indecisive movement yesterday, formed A Doji on daily chart but traded significantly higher early today in Asian session around 0.9010 area. The fact that price already break above 0.8950 should lead us now into a further phase of bullish scenario targeting 0.9350 area. The bias is bullish in nearest term targeting 0.9090 area. Immediate support at 0.8950 area. Break below that area should trigger further bearish correction but short position is not recommended at this phase.