EURJPY Forecast

The EURJPY attempted to push lower last week, bottomed at 102.99 but closed higher at 103.85 on Friday. The bias is neutral in nearest term. Potential range between 102.48 – 104.95 but as long as stays below 104.95 I still prefer a bearish intraday scenario with short on rallies strategy. A clear break above 104.95 would turn my intraday bias to a bullish mode testing the trend line resistance and 106.50 resistance area. On the downside, a clear break and daily close below 102.48 could trigger further bearish scenario testing 100.74 support area.

GBPJPY  Forecast

The GBPJPY was indecisive last week, made a Doji on weekly chart. The bias is neutral in nearest term but as long as stays below 122.62 I still prefer a bearish intraday scenario at this phase with short on rallies strategy. My double bottom bullish reversal scenario remains valid, but need a clear break at least above 122.62 to keep the bullish scenario strong. On the downside, a clear break and daily close below 119.35 could be a threat to the double bottom bullish reversal scenario.

AUDUSD Forecast

The AUDUSD was indecisive last week, made a Doji on daily chart. The bias is neutral in nearest term. Price attempted to push lower on Friday, but unable to make a clear break below 1.0080 and traded higher back above 1.0149. This fact keeps the double bottom bullish scenario remains intact but need a clear break and daily close at least above 1.0250 to continue the bullish scenario testing 1.0329 even 1.0440. On the downside, a clear break and daily close back below 1.0080 could trigger further bearish pressure testing 0.9925.

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