EURJPY Forecast

The EURJPY continued its bullish momentum yesterday after broke above 104.95 as you can see on my h4 chart below and now testing 106.97 resistance area. The bias remains bullish in nearest term especially if price able to make a clear break above 106.97 testing the major trend line resistance (white) and 108.00/50 area. Immediate support is seen around 106.00. A clear break below that area could lead price to neutral zone in nearest term but as long as price stays above 104.95 I still prefer a bullish intraday scenario at this phase.

GBPJPY  Forecast

The GBPJPY continued its bullish momentum yesterday, broke above 120.80, topped at 122.33 and closed a little bit lower at 121.29. The bias remains bullish in nearest term testing the trend line resistance and 122.50 region. A clear break above that area and violation to the trend line resistance would give further confirmation to the double bottom bullish reversal scenario testing 124.00 – 125.00 area. Immediate support is seen around 120.50/80. A clear break below that area would lead price to neutral zone in nearest term but as long as price stays above 119.00 the double bottom bullish scenario should remain alive and kicking.

AUDUSD Forecast

The AUDUSD continued its bullish momentum yesterday, slipped above 1.0180 and hit 1.0230 earlier today in Asian session. The bias remains bullish in nearest term testing 1.0310 – 1.0400 area. Immediate support is seen around 1.0125. A clear break below that area could lead price to neutral zone in nearest term but as long as price stays above 1.0000 I still prefer a bullish intraday scenario at this phase and only a movement back below 0.9877 could change my intraday technical bias to a bearish mode.

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