EURJPY Forecast

The EURJPY failed to continue it’s bullish momentum yesterday, bottomed at 134.58 and closed at 134.81. The pair keep moving lower early today in Asian session around 134.40 at the time I wrote this comment. On h4 chart below we can see that the bullish channel has been violated to the downside indicating potential threat to the bullish outlook. The bias is bearish in nearest term targeting 133.40 area but I prefer to stay out for now as the bullish scenario in longer term remains intact as long as the pair stay above the major bullish trendline (orange). Immediate resistance at 134.90. Break above that area should trigger further bullish momentum.

GBPJPY Forecast

The GBPJPY had a volatile market yesterday but made indecisive movement formed a Doji on daily chart. On h4 chart below we can see that the price is now struggling around the trendline resistance. The bias is neutral in nearest term but I still prefer a downside scenario at least testing 148.00 area before aim for 146.75 area. Immediate resistance at 149.40. Break above that area should trigger further bullish momentum and could be a potential threat to the bearish outlook.

AUDUSD Forecast

The AUDUSD made a significant bullish momentum yesterday. On h4 chart below we can see that after break above 0.8675 the price made a bullish momentum, topped at 0.8758 and closed at 0.8736 and traded around 0.8765 at the time I wrote this comment. The bias is bullish in nearest term targeting 0.8820 – 0.8880 area. Immediate support at 0.8730. Break below that area should lead us into no trading zone but short position is not recommended.