EURJPY Forecast

The EURJPY attempted to push higher yesterday, topped at 133.86 but bullish momentum was limited as the pair closed lower at 133.37. On h4 chart below we can see that the price touched the upper line of the bearish channel before retreat lower, show us that the bearish channel (red) still hold so far but the bullish channel (blue) also remains valid indicating potential bullish correction scenario remains intact. I think we are in no trading zone now. Immediate resistance is seen at 133.86 (yesterday’s high). A clear break below that area could be considered as bearish channel violation and should trigger further bullish momentum towards 134.50 area. Initial support at 132.80.

GBPJPY Forecast

The GBPJPY failed to continue it’s bullish momentum yesterday. The pair attempted to push higher, topped at 153.23 but further bullish scenario was rejected as the pair closed lower at 151.97. On h4 chart below we can see that the bullish channel (blue) has been violated to the downside indicating bullish scenario failure and the price might move towards the upper line of the bearish channel (red). The bias is bearish in nearest term testing 151.15 and 150.50 area. Immediate resistance at 153.23 (yesterday’s high).

AUDUSD Forecast

The AUDUSD had a moderate bullish momentum yesterday, topped at 0.8575 and closed at 0.8553. On h4 chart below we can see that after breakout from the triangle and hit yesterday’s high, the pair is now seems to consolidating a little bit lower. The bias is neutral in nearest term but I am expecting further bullish momentum and 0.8615 is still a potential bullish target. However CCI about to cross the 100 line down on h4 chart suggesting potential downside rebound testing 0.8470/80 area.