EURJPY Forecast

The EURJPY was volatile but indecisive on Friday. Price attempted to push lower, but found a strong support around 104.95 before closed higher at 105.87. The bias is neutral in nearest term but as long as price stays above 104.95 the bullish phase since bounced from 100.74 and violation to the minor trend line resistance (red) should remain intact. Immediate resistance is seen around 106.00. A clear break and daily close above that area could trigger further bullish pressure testing the major trend line resistance (white) and 108.00 area. Price is in a critical phase, where the current bullish short term outlook is challenging the long term resistance. Aggressive intraday traders can long around 104.95 with a tight stop loss as a clear break and daily close below that area could turn the intraday bias back to a bearish view.

GBPJPY  Forecast

The GBPJPY was volatile but indecisive on Friday. The bias is neutral in nearest term but as you can see on my daily chart below price is now struggling around the trend line resistance suggests a critical technical phase. A clear break and daily close above the trend line resistance and 122.62 could give further confirmation to the double bottom bullish reversal scenario. My overall intraday bias remains to the upside and only a clear break back below 120.00 could stop the current bullish intraday outlook and postpone the double bottom bullish scenario.

AUDUSD Forecast

The AUDUSD had a bullish momentum on Friday and slipped above 1.0400 earlier today in Asian session. The bias is bullish in nearest term testing 1.0530 even 1.0660. Immediate support is seen around 1.0365. A clear break below that area could lead price to neutral zone in nearest term testing 1.0320 – 1.0280 support area but as long as price stays above 1.0110 I still prefer a bullish intraday scenario at this phase as a part of the bullish phase since bounced strongly to the upside from 0.9400 and broke above the trend line resistance as you can see on my h4 chart below.

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