EURJPY Forecast

The EURJPY was volatile but indecisive yesterday. Price attempted to push lower, slipped below 102.2o but whipsawed to the upside and hit 103.55 earlier today in Asian session. On my h4 chart below we can see price is moving inside a range area of 102.20 – 103.88 suggests consolidation phase and need a clear break from the range area to see clearer direction. My overall technical outlook remains to the downside as long as price stays below the trend line resistance but a clear break and daily close above 103.88 could trigger further bullish pullback testing 105.00/20 even 106.57. Immediate support is seen around 102.70. A clear break below that area could trigger further bearish pressure but we need a clear break and daily close below 102.20 to resume the major bearish scenario, still testing 100.08.

GBPJPY  Forecast

The GBPJPY was volatile but indecisive yesterday. The bias is neutral in nearest term but as you can see on my hourly chart below price is moving inside a minor bullish channel suggests potential bullish correction in nearest term testing 119.50 resistance area. My overall technical outlook remains to the downside and any bullish correction now is normal and should be seen as a corrective move. Immediate support is seen around 118.35 followed by the lower line of the bullish channel located around 118.00. A clear break below the bullish channel could end the current bullish correction phase retesting 117.00 – 116.82 support area.

AUDUSD Forecast

The AUDUSD was volatile but indecisive yesterday. Price attempted to push lower, slipped below 0.9700 but whipsawed to the upside and hit 0.9881 earlier today in Asian session. The bias is bullish in nearest term testing 0.9925 but my overall technical bias remains to the downside after the violation to the triangle and I still prefer a bearish scenario at this phase. Immediate support is seen around 0.9800. A clear break below that area could lead price to neutral zone in nearest term testing 0.9700 but we need a clear break and daily close below 0.9700 to continue the bearish scenario testing 0.9400 area.

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