EURJPY Forecast

The EURJPY was volatile but indecisive last week, made a Doji on weekly chart. Price attempted to push higher but found a good intraday resistance around 106.57. The bias is neutral in nearest term but my overall technical bias remains to the downside as long as price moves below the trend line resistance and any upside pullback now is normal. Immediate resistance is seen around 105.50. A clear break above that area could trigger further upside pullback testing 106.57. On the downside, we need a clear break below 103.88 support area to continue the major bearish scenario testing May 2001 low at 100.08.

GBPJPY  Forecast

The GBPJPY had another indecisive movement on Friday, made a Doji on daily chart. The bias is neutral in nearest term but my overall technical bias remains to the downside as long as price stays below the trend line resistance. Price is now testing 120.65 strong/key intraday support area. A clear break and daily close below that area could trigger further bearish scenario testing 118.83. Immediate resistance is seen around 121.00. A clear break above that area could trigger further upside pullback testing 121.50 – 122.00 area but any upside pullback now is normal and should be seen just as a corrective movement.

AUDUSD Forecast

The AUDUSD was indecisive on Friday, but traded lower earlier today in Asian session hit 1.0230. The bias is bearish in nearest term testing 1.0176 but note that we have a gap down today which probably would be filled especially if price breaks back above 1.0280 – 1.0300 resistance area testing 1.0350 – 1.0400 region. My daily outlook remains neutral on this pair, still with potential wide range of consolidation inside my triangle as you can see on my daily chart below. On the downside, a clear break and daily close below 1.0176 could continue the bearish pressure testing the lower line of the triangle which is also a trend line support.

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