EURJPY Forecast

The EURJPY had a volatile market yesterday, bottomed at 132.45 but whipsawed to the upside, topped at 134.01, closed at 133.68 and traded higher around 134.10 at the time I wrote this comment. A broader look at h4 chart below we can see that the bullish scenario remains intact as the trendline support did a good job preventing further bearish pressure. The bias is bullish in nearest term but we seem to have good resistance around 134.35 area as key resistance level at this phase. Break above that area should set up a bullish view targeting 135.10 even 136.00 area. Immediate support at 133.50. Break below that area should lead us into no trading zone.

GBPJPY Forecast

The GBPJPY also had a volatile market yesterday, bottomed at 148.60 but whipsawed to the upside, closed higher at 149.78 and traded higher around 150.20 at the time I wrote this comment. On h4 chart below we can see that this was a case of false breakdown below 149.02. Usually a false breakdown lead to significant bullish momentum. The bias is bullish in nearest term testing the trendline resistance (red) area. Breakout above that trendline resistance should trigger further bullish momentum testing 152.30 area. Immediate support at 149.65 area.

AUDUSD Forecast

The AUDUSD made a significant bullish momentum yesterday, breakout from the range area (see h1 chart below), topped at 0.8749 and closed at 0.8726. For me this is nothing but a bullish continuation confirmation. The bias is bullish in nearest term targeting 0.8813 area (August 21 2008 high). Immediate support at 0.8720. Break below that area should lead us into no trading zone but bullish scenario should remains intact.