EURJPY Forecast

The EURJPY had a bearish momentum yesterday, bottomed at 107.53 and closed at 107.72. This fact could continue the bearish scenario, still testing 106.57. Immediate resistance is seen around 108.10. A clear break back above that area could lead price to a neutral zone in nearest term testing 108.50 – 109.00 but overall, as long as price stays below the trend line resistance my technical bias remains to the downside.

GBPJPY  Forecast

The GBPJPY had another volatile but indecisive movement yesterday. The bias remains neutral in nearest term. The major scenario remains to the downside and I still prefer a bearish scenario at this phase but looks like 122.93 is a strong intraday support at this phase and we need a clear break below that area to continue the bearish scenario testing 2009 low at 118.83. Immediate resistance is seen around 124.30. A clear break above that area could trigger further bullish pullback testing 124.85. Immediate support is seen around 123.50. A clear break below that area could trigger further bearish momentum retesting 122.93.

AUDUSD Forecast

The AUDUSD was unable to continue its bullish intraday bias yesterday and now struggling around 1.0600 area. The bias remains neutral in nearest term and there are no changes in my technical outlook with potential wide range consolidation scenario inside my triangle as you can see on my daily chart below. A clear break above the triangle and daily close above 1.0700 area could create another bullish scenario, retesting the all time high 1.1079. Immediate support is seen around 1.0550 . A clear break below that area could change my short term bias to bearish testing 1.0500 area. Immediate resistance is seen around 1.0650. A clear break above that area could trigger further bullish pressure testing the upper line of the triangle and 1.0700.

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