EURJPY Forecast

The EURJPY had a bullish correction yesterday, topped at 104.94 but closed lower at 104.19 and hit 103.67 earlier today in Asian session. The bias is neutral in nearest term. On my hourly chart below we can see price slipped below the minor bullish channel. A clear break below the bullish channel and movement back below 103.60 could trigger further bearish pressure testing 103.00 – 102.50 but we need a clear break below 102.20 to continue the major bearish scenario, still testing 100.08 area. On the upside, a movement back above 103.88 – 104.00 could trigger further upside momentum testing 104.50 – 115.00 and keep the bullish correction phase intact.

GBPJPY  Forecast

The GBPJPY continued its bullish correction yesterday, topped at 120.43, closed at 119.88 but traded lower earlier today in Asian session hit 119.43. The bias is neutral in nearest term but still within a context of a bullish correction phase testing 120.65. Immediate support is seen around 119.40. A clear break below that area could trigger further bearish pressure in nearest term testing 118.50/35 and the lower line of the bullish channel. My major outlook remains to the downside but need a clear break below the bullish channel to potentially end the current bullish correction phase and resume the major bearish scenario.

AUDUSD Forecast

The AUDUSD had a bullish momentum yesterday, slipped above 0.9925, topped at 0.9984 but closed lower at 0.9901 and hit 0.9842 earlier today in Asian session. The bias is neutral in nearest term. My major outlook remains to the downside after the violation to the triangle but still need a clear break below 0.9700 to continue the bearish scenario testing 0.9400. Immediate support is seen around 0.9842 (current low). A clear break below that area could trigger further bearish pressure testing 0.9780/50 region. Immediate resistance is seen around 0.9900. A clear break back above that area could trigger further bullish pressure testing 1.0000.

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