EURJPY Forecast

The EURJPY continued its bearish momentum on Friday, closed below 106.57, bottomed at 105.28 and hit 104.27 earlier today in Asian session. This fact confirms further bearish continuation scenario testing 100.08 (May 2001 low). Immediate resistance is seen around 105.00 followed by 106.57. A clear break and daily close back above 106.57 could lead price to neutral zone in nearest term but unless we have a major fundamental event, like BOJ intervention, my overall technical bias remains strongly to the downside as long as price stays below the trend line resistance and 109.45.

GBPJPY  Forecast

The GBPJPY slipped below 122.93 on Friday and hit 122.00 earlier today in Asian session. This fact confirms further bearish scenario targeting 2009 low at 118.83. On the upside, only another consistent movement and daily close back above 122.93 could trigger further bullish pullback but unless we have a major fundamental event, like BOJ intervention, my overall technical bias remains strongly to the downside as long as price stays below the trend line resistance and 124.85.

AUDUSD Forecast

The AUDUSD had a bearish momentum on Friday on broad US Dollar strength, bottomed at 1.0420 and hit 1.0354. While my short term technical bias is now bearish testing 1.0300 support area, my triangle scenario since the fall from all time high seems to get its further confirmation, a potential wide range consolidation. A clear break below 1.0300 could trigger further bearish pressure retesting the trend line support (white), which is also the lower line of my triangle. Immediate resistance is seen around 1.0440. My major technical outlook remains focusing on the triangle and need a clear break from the triangle to see clearer direction.

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