EURJPY Forecast

The EURJPY had a bullish momentum on Friday, topped at 133.22 and closed at 132.93. On h4 chart below we can see that the current bullish momentum is now challenging the major bearish channel (red channel) at the same time is making a new bullish channel (blue channel) indicating potential upside pressure. The bias is bullish in nearest term testing the bearish channel upper line resistance and 133.85 area but as long as the major bearish channel hold, any upside momentum should be seen as a correction. Break above 133.85 area and violation to the bearish channel should be seen as potential bearish scenario failure and could trigger further upside pressure at least towards 134.50 and could be a beginning of a bullish outlook. Immediate support at 132.80.

GBPJPY Forecast

The GBPJPY continued it’s bullish momentum on Friday, topped at at 152.69 and closed at 152.41. On h4 chart below we can see that the bearish channel has been violated to the upside indicating bearish scenario failure and the pair is making new bullish channel indicating potential bullish view. The bias is bullish in nearest term targeting 153.88 area. Immediate support at 152.30 area. Break below that area should lead us into no trading zone.

AUDUSD Forecast

The AUDUSD had a significant bullish momentum on Friday, topped at 0.8534 and closed at 0.8503. On h4 chart below we can see that the pair has break above the upper line of the triangle (B) and range area indicating a bullish view. The bias is bullish in nearest term targeting 0.8615 area. However CCI about to cross the 100 line down on h1 chart so watch out for potential downside rebound testing 0.8477 support area (former resistance). Break below that area should lead us into no trading zone.