EURJPY Forecast

The EURJPY had bullish momentum yesterday, topped at 135.47 but closed a little bit lower at 135.00. On h4 chart below we can see that after bounced from the major trendline support, the pair keep moving higher. The bias is neutral in nearest term but I prefer a bullish scenario targeting 136.07 area. CCI in overbought area and heading down on h4 chart so watch out for potential downside pullback testing 134.50 support area. Break below that area should lead us into no trading zone and could trigger further downside correction.

GBPJPY Forecast

The GBPJPY was corrected higher yesterday, topped at 149.59 and closed at 149.05. I think we are in no trading zone area but I still prefer a downside scenario. On h4 chart below we can see that the pair is now testing the trendline resistance (red) again. Breakout above that trendline resistance should trigger further upside correction scenario but long position is not recommended at this phase. Immediate support at 148.00 followed by 146.75. Initial resistance at 149.59 (yesterday’s high). Break above that area should trigger further upside correction towards 150.50 area.

AUDUSD Forecast

The AUDUSD made another soft bearish correction yesterday. On h4 chart below we can see that the pair is now in smooth downside correction after some bullish momentum but I still prefer a bullish scenario and short position is not recommended at this phase. The bias remains neutral in nearest term, but CCI just cross the -100 line up on h4 chart suggesting potential upside pressure. Immediate resistance at 0.8675 area. Break above that area should trigger further bullish momentum targeting 0.8720 and 0.8770 area.