EURJPY Forecast

The EURJPY continued it’s bearish correction yesterday, bottomed at 133.33 but closed a little bit higher at 133.77.  Early today in Asian session, as you can see on h4 chart below, the price has break below 133.40 support area, which is a critical level at this phase. Consistent move below that area should trigger further bearish momentum testing the major trendline support (orange) and could be a serious threat to the bullish outlook. As long as the pair able to move above the trendline support, I think the bullish scenario in longer term remains intact although nearest term bias is strongly bearish. Immediate resistance at 133.80 followed by 134.30. Break above that area should trigger further bullish momentum and could put the bearish correction to it’s end.

GBPJPY Forecast

The GBPJPY had a huge bearish momentum yesterday, fell below 148.00 key support area , closed at 146.54 and now traded around 145.00 at the time I wrote this comment. This fact is nothing but a bearish continuation confirmation, at least in nearest term,  targeting 144.00 and 143.00 area.  Immediate resistance at 146.73. Break above that area should lead us to no trading zone.

AUDUSD Forecast

The AUDUSD had a significant bearish momentum yesterday. On h1 chart below we can see that price has break below the trendline support (blue), which is now become a resistance. This fact surely diminish the bullish outlook with neutral medium term bias but bearish nearest term bias targeting 0.8505 area. Immediate resistance is seen at 0.8660 area and price might retreat towards the trendline area. Break above 0.8660 should trigger further bullish momentum, keep the bullish scenario intact and make this trendline breakout as a false breakdown.