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EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, bottomed at 1.2814 and closed at 1.2829. The bias remains bearish in nearest term testing 1.2800 – 1.2750/33 region before testing 1.2625 area as a part of the bearish scenario since broke below the descending triangle. Immediate resistance is seen around 1.2880 – 1.2905 area. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.3000 my overall intraday bias remains to the downside.

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EURJPY Forecast
The EURJPY continued its bearish momentum yesterday, bottomed at 102.21 and closed at 102.46. The bias remains bearish in nearest term especially if price able to make another clear break below 102.20 testing 101.00 – 101.50 support area. Immediate resistance is seen around 102.75. A clear break above that area could lead price to neutral zone in nearest term testing 103.50 but as long as stays below 104.44 my overall intraday bias remains to the downside and I still prefer to sell on rallies.

GBPJPY  Forecast
The GBPJPY was volatile but indecisive yesterday made a Doji on daily chart. There are no changes in my technical outlook. The bias remains neutral in nearest term and price is still consolidating inside the triangle formation in medium term. Potential daily range remains between 127.80 – 129.37. I will stand aside for now.

AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday, bottomed at 0.9954 and hit 0.9943 earlier today. There are no changes in my technical outlook. Although the bearish momentum was not as strong as I had expected, nearest term bias remains to the downside still testing 0.9910 region. Immediate resistance is seen around 1.0020/43 area. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.0200 I still prefer to sell on rallies.

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EURUSD Forecast
The EURUSD attempted to push higher last week, topped at 1.3064 but whipsawed to the downside, closed at 1.2914 and hit 1.2878 earlier today. The bias remains bearish in nearest term especially if price able to make another clear break and daily close below 1.2880 testing 1.2800 – 1.2750 region before testing 1.2625 as a part of the major bearish scenario after broke below the descending triangle. Immediate resistance is seen around 1.2950. A clear break above that area could lead price to neutral zone in nearest term testing 1.3000 region. The falling wedge bullish pullback scenario should remain intact especially if price able to break above 1.2950 but any upside momentum now should be seen as a normal corrective movement and overall I remain bearish.

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EURJPY Forecast
The EURJPY was indecisive last week, made a Doji on weekly chart. There are no changes in my technical outlook. Nearest term bias remains to the downside, still testing 102.20 region. Immediate resistance remains around 103.70. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 104.44 my overall intraday bias remains strongly to the downside and only a clear break back above 105.60 could stop the current bearish outlook. CCI is in oversold area and challenging the -100 line so watch out for potential bullish pullback.

GBPJPY  Forecast
The GBPJPY was indecisive last week, made a Doji on weekly chart. The bias is neutral in nearest term but overall price is still in a bearish correction phase since fell from 133.47. As you can see on my daily chart below, price is moving inside a triangle formation suggests a major consolidation phase and need a clear break from the triangle to see clearer direction. Potential daily range is seen between 127.80 – 129.37.

AUDUSD Forecast
The AUDUSD attempted to push higher last week, topped at 1.0218 but whipsawed to the downside, closed at 1.0017 and hit 0.9994 earlier today. The bias remains bearish in nearest term testing 0.9910 region. Immediate resistance is seen around 1.0043/70 region. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 1.0200 I still prefer a bearish scenario at this phase with sell on rallies strategy.

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GBPUSD  Forecast
The GBPUSD attempted to push higher last week, topped at 1.6197 but whipsawed to the downside, closed lower at 1.6065 and hit 1.6052 earlier today. The bias remains bearish in nearest term as a part of the bearish correction scenario since fell from 1.6300 testing 1.6050 – 1.6000 support area. However note that the major bullish scenario should remain intact and only a clear break and daily close below 1.6000 and the trend line support (blue) could create further bearish scenario. 1.6000 – 1.6050 remains a good place to buy with tight stop loss below 1.6000. Immediate resistance is seen around 1.6100. A clear break above that area could lead price to neutral zone in nearest term and I think we need a clear break at least back above 1.6200 to potentially end the current bearish correction phase.

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EURUSD Forecast
The EURUSD was corrected higher yesterday, filled the weekend gap, topped at 1.3064 and closed at 1.3058. The bullish momentum should be seen just as a corrective movement and overall I remain bearish. Immediate resistance is seen around 1.3064/80. A clear break above that area could trigger further bullish correction testing 1.3135/50 resistance area. On the downside, a clear break and daily close below 1.3000 would keep the bearish scenario remains strong testing 1.2880 support area.

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USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term but 80.23 – 79.52 area remains a good place to buy with tight stop loss below 79.52.  On the downside, a clear break and daily close below 79.52/35 could be a threat to the bullish reversal scenario testing 78.27 or lower. Immediate resistance is seen around 80.00. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily close back above 81.80 could end the current bearish correction phase and continue the major bullish reversal outlook after hit the record low.

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USDJPY Forecast
The USDJPY had a bearish momentum last week, closed at 79.82. The bias remains bearish in nearest term but 80.23 – 79.52 area remains a good place to buy with tight stop loss below 79.52.  On the downside, a clear break and daily close below 79.52/35 could be a threat to the bullish reversal scenario testing 78.27 or lower. Immediate resistance is seen around 80.00. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily close back above 81.80 could end the current bearish correction phase and continue the major bullish reversal outlook after hit the record low.

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EURUSD Forecast
The EURUSD was indecisive yesterday, made a Doji on daily chart but overall still maintain its bullish short term bias and keep making higher lows since bounced from 1.3000. The bias remains bullish in nearest term but note that as long as stays inside the triangle price is still in a consolidation phase within a major bearish context. The upper line of the triangle which now located around 1.3280 – 1.3300 will be a key resistance. A clear break and daily close above that area could cancel the bearish outlook testing 1.3350/80 area or higher. Daily EMA 200 is seen around 1.3350. A clear break and daily close above the daily EMA 200 could give further confirmation of a potential major bullish reversal scenario.  On the downside, we need a clear break and daily close at least below 1.3150 to give the major bearish scenario another chance retesting 1.3000 strong support area. I still prefer to sell on rallies at this phase with a tight stop loss above the triangle.