EURJPY Forecast

The EURJPY was indecisive yesterday. Price slipped above 107.65 but whipsawed to the downside, hit 106.24 and closed at 106.73. The bias is neutral in nearest term but still in a major bearish scenario. On h1 chart below we have a rising wedge formation. Break above the formation could trigger further upside momentum re-testing 107.65 and 108.25. On the other hand break below the formation could continue the bearish scenario testing 105.43.

GBPJPY Forecast

The GBPJPY continued its bearish momentum yesterday, bottomed at 128.65 but traded higher around 129.54 at the time I wrote this comment. The bias is neutral in nearest term but still within a major bearish scenario. Immediate resistance at 130.50 followed by 130.80. Break above 130.80 could trigger further upside correction but as long as price move inside the major bearish channel I still prefer a bearish scenario. On the downside, break below 128.65 could continue the bearish scenario testing 126.75.

AUDUSD Forecast

The AUDUSD was indecisive yesterday but had some upside pressure earlier today in Asian session. I have made adjustment to the bullish channel, connecting the lower line of the channel to key support 0.8858 which has been a strong support preventing further bearish attack and keep the bullish scenario intact. Immediate resistance at 0.9040. Break above that area could trigger further bullish momentum testing 0.9145.

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