Forex and Trading News

About Me
My Articles

EURJPY Forecast
The EURJPY failed to continue its bullish correction yesterday after unable to make a break above 111.25 resistance area and hit 110.09. The bias is neutral in nearest term but the bullish failure could create a bearish intraday view testing 109.45 support area. A clear break and daily close below 109.45 would reopen the door for another retest of 106.57 and keep the major bearish scenario remains strong. Immediate resistance is seen around 110.75. A clear break above that area could change the intraday bias back to bullish retesting 111.25 and would reopen the door for further bullish correction testing 112.90 – 113.40 and the trend line resistance. As long as price stays below the trend line resistance my overall technical bias remains to the downside and I still prefer a bearish scenario at this phase.

GBPJPY  Forecast
The GBPJPY was indecisive yesterday but overall still able to maintain its bullish correction bias. The bias is neutral in nearest term. Any bullish pullback now is normal and should be seen just as a corrective move unless price breaks above the trend line resistance. Immediate support is seen around 125.75. A clear break below that area could change the intraday bias back to bearish testing 125.27 – 124.85 support area. On the upside, we need a clear break above 126.40 to continue the bullish correction scenario testing 127.02 and the trend line resistance.

AUDUSD Forecast
The AUDUSD was volatile but indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term with potential intraday range between 1.0525 – 1.0369. Price is still in a bullish intraday phase since the strong upside pullback after touched the trend line support, but need a clear break above 1.0525 to continue the bullish scenario. On the other hand, a clear break below 1.0369 could reopen the door for another retest of the trend line support.

About Me
My Articles

EURJPY Forecast
The EURJPY had a bullish momentum yesterday, topped at 111.02 and closed at 110.89. The bias is bullish in nearest term especially if price able to make another break above 111.25 testing the trend line resistance and 112.90 – 113.40 region. However note that as long as price stays below the trend line resistance, the major bearish scenario remains intact and the current bullish intraday outlook should be seen just as a corrective move and only a movement above the trend line resistance could end the bearish scenario and begin a new bullish phase. Immediate support is seen around 110.20. A clear break below that area could change the intraday bias to bearish retesting 109.45 support area and keep the major bearish scenario remains strong.

GBPJPY  Forecast
The GBPJPY had a bullish momentum yesterday, topped at 125.99. The bias is bullish in nearest testing 127.02 and the trend line resistance. However note that as long as price stays below the trend line resistance the overall technical outlook remains bearish and the current intraday bullish bias must be seen just as a corrective move and only a movement above the trend line resistance could be a serious threat to the bearish outlook and open the door for a new bullish phase.

AUDUSD Forecast
The AUDUSD continued its bullish bias yesterday, topped at 1.0512 and closed at 1.0485. The bias remains bullish in nearest term especially if price able to make another breakout above 1.0525 testing 1.0678 region. Immediate support is seen around 1.0450/20 region. A clear break back below that area could lead price to neutral zone in nearest term testing 1.0380 area.

About Me
My Articles

EURJPY Forecast
The EURJPY was corrected higher yesterday, but unable to make a clear break above 109.45 so far, hit 108.80 earlier today in Asian session. This fact keeps my bearish intraday outlook intact, still targeting 106.57. There are no changes in my daily technical outlook. Only a clear break and daily close above 109.45 could stop my bearish intraday bias but as long as price stays below the trend line resistance my overall technical view remains to the downside.

GBPJPY  Forecast
The GBPJPY was corrected higher yesterday, but found a good intraday resistance around 124.85 as you can see on my daily chart below. This fact keeps my bearish intraday outlook remains intact, still targeting 122.93 even lower. On the upside, only a clear break and daily close above 124.85 could stop the current bearish intraday outlook testing 125.80 but as long as price stays below the trend line resistance my overall technical bias remains to the downside.

AUDUSD Forecast
The AUDUSD had a bullish momentum yesterday, but the 23.6% Fibo retracement of 0.8066 – 1.1079 which located around 1.0380 still provide a good resistance far, keep the intraday bearish bias after the rapid fall from all time high 1.1079 remains intact. However, note that we need a clear break below the trend line support (white) to continue the bearish correction/reversal scenario. Aggressive intraday traders may short around 1.0380 with tight stop loss. Immediate support is seen around 1.0250. A clear break below that area could trigger further bearish pressure testing 1.0170 and 1.0100 and would reopen the door for another retest of the trend line support.

About Me
My Articles

EURJPY Forecast
The EURJPY had a bearish momentum yesterday, broke below 109.45, bottomed at 108.24 but bounced higher earlier today in Asian session, struggling back around 109.45 region. The bias is bearish in nearest term and 109.45 area seems to be a good place for a short position with a tight stop loss, targeting 106.57. On the upside, another clear break back above 109.45 would lead price to a neutral zone in nearest term testing 110.50/80 and activate my wait and see mode as direction would become unclear but as long as price stays below the trend line resistance I still prefer a bearish scenario.

GBPJPY  Forecast
The GBPJPY had a significant bearish momentum yesterday, bottomed at 123.28 and closed at 123.76. The bias is bearish in nearest term targeting 122.93. Immediate resistance is seen around 124.85. A clear break back above that area would lead price to a neutral zone in nearest term and activate my wait and see mode as direction would become unclear but as long as price stays below the trend line resistance my overall technical bias remains to the downside. However, a further rapid Yen appreciation may trigger another intervention by the Japanese government, which is the only potential bullish warning I can see for now.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday after unable to make a clear break above the 23.6% Fibo retracement of 0.8066 – 1.1079 as you can see on my daily chart below, bottomed at 1.0123 but whipsawed to the upside earlier today in Asian session, hit 1.0300. Overall price is still in a bearish phase since the rapid fall from 1.1079 and the 23.6% Fibo area which is located around 1.0380 seems to be a good place for a short position with a tight stop loss targeting 1.0100. A clear break below that area could trigger further bearish pressure retesting the trend line support and 0.9925.

About Me
My Articles

EURJPY Forecast
The EURJPY was volatile but indecisive last week. Price attempted to push higher but found a good resistance around the trend line resistance (white) and 113.40 region. The bias is neutral in nearest term but as long as price stays below the trend line resistance and 113.40 my overall technical bias remains to the downside. Immediate support is seen around 111.00. A clear break below that area would change the intraday bias back to bearish testing 109.45. Immediate resistance is seen around 112.50. A clear break above that area could change the intraday bias to bullish retesting 113.40 and the trend line resistance.

GBPJPY  Forecast
The GBPJPY was volatile but indecisive last week. Price slipped above the trend line resistance but closed back below the trend line resistance. This fact keeps the major bearish scenario intact and a false breakout scenario could trigger a downside pullback testing 125.95 especially if price able to make a clear break below 127.50 support area today. On the upside, immediate resistance is seen around 129.00 and the trend line resistance area. Another movement back above the trend line resistance could produce another threat to the bearish scenario.

AUDUSD Forecast
The AUDUSD had a significant bearish momentum last week just after hit a new historical high at 1.1079, bottomed at 1.0373 and hit 1.0299 earlier today in Asian session. While my major outlook remains bullish, the intraday bias has changed to a bearish view, testing 1.0200 and the minor trend line support (white) as you can see on my daily chart below. Immediate resistance is seen around 1.0425. A clear break above that area could lead price to a neutral zone in nearest term but only a clear break back above 1.0525 could stop the current strong bearish intraday outlook, keep the major bullish scenario remains strong and reactivate my bullish mode.

About Me
My Articles

EURJPY Forecast
The EURJPY had a bullish momentum yesterday but still unable to make a clear break above 113.40 key resistance area so far. The bias remains bullish in nearest term especially if price able to make a clear break above 113.40 testing 114.75 and the trend line resistance (white). Aggressive intraday traders can still short around 113.40 with a tight stop loss. Immediate support is seen around 112.50 and the minor trend line support (red) followed by 111.45.

GBPJPY  Forecast
The GBPJPY had a bullish momentum yesterday, hit 128.15. Overall there are no changes in my daily technical outlook where price is still in a bullish correction phase since the bullish momentum from 124.85, testing the trend line resistance (red) and 129.40 especially if price able to make a clear break above 128.40. Price also has been moving in a sideways mode, so aggressive intraday traders may still short with tight stop loss above 128.40. Immediate support is seen around 127.77 followed by 126.60 region. Price is in a bullish intraday phase, but only a break above the trend line resistance could trigger further bullish scenario and as long as price stays below the trend line, any bullish movement should be seen just as a corrective movement.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday and had a significant bullish continuation earlier today in Asian session, hit a new historical high at 1.1061. The bias remains bullish in nearest term aiming for a new historical high projection around 1.1100/50. Immediate support is seen around 1.1010 (former historical low). A clear break below that area could lead price to a neutral zone in nearest term but until we have a technical sign of correction/reversal, my overall technical bias remains strongly to the upside.

About Me
My Articles

EURJPY Forecast
The EURJPY slipped above 113.40 key resistance of Friday but unable to closed above that level and traded lower earlier today in Asian session hit 112.39. The bias is neutral in nearest term. As long as price stays below 113.40 I still prefer a bearish scenario at this phase and the current false break above 113.40 could create a bearish intraday pressure testing the trend line support (red) and 111.45 region. On the upside, only a clear break and daily close above 113.40 could trigger further bullish pressure testing the trend line resistance (white) and 114.75.

GBPJPY  Forecast
The GBPJPY failed to continue its bullish intraday bias on Friday and traded back below 122.77 earlier today in Asian session. My intraday bias is a little bit mess now. Price has been crossing the 127.77 level up and down without clear direction and momentum. As long as price stays below the trend line resistance (red) the bearish scenario should remain intact. Aggressive intraday traders can reactivate their bearish intraday mode as price has back below 127.77 with a tight stop loss above 128.18. Immediate support is seen around 127.00 followed by 126.60. A daily close back below 126.60 would reactivate my bearish intraday mode, testing 125.95 and 124.85.

AUDUSD Forecast
The AUDUSD was indecisive on Friday and unable to make a clear break above 1.0887 resistance area. The bias is neutral in nearest term but unless price makes a daily close back below 1.0770 my overall intraday bias is to the upside. A clear break and daily close back below 1.0770 could trigger a bearish momentum as a false breakout scenario might be produced and could reopen the door for another bearish correction scenario after hit all time high 1.1010 retesting 1.0500 key support area. On the upside, a clear break and daily close above 1.0887 could continue the bullish momentum retesting 1.1010, even aiming for new historical high.

About Me
My Articles

EURJPY Forecast
The EURJPY continued its bullish bias yesterday and now testing 113.40 key resistance area after broke above the symmetrical triangle as you can see on my h4 chart below. The bias is bullish in nearest term especially if price able to make a clear break above 113.40 testing the trend line resistance (white) and 114.75 resistance area. Aggressive intraday traders can still short around 113.40 due to a good risk – reward ratio there with a tight stop loss as a clear break above 113.40 could continue the bullish intraday pressure. Immediate support is seen around 112.50. A clear break below that area could lead us to neutral zone in nearest term testing 111.45 and keep price is range outlook between 113.40 – 109.45.

GBPJPY  Forecast
The GBPJPY had a significant bullish momentum yesterday and convincingly closed above 127.77  resistance (now support). The bias is bullish in nearest term testing the trend line resistance (red) and 129.40. However note that as long as price moves below the trend line resistance the major bearish scenario remains intact. On the downside, a clear break back below 127.77 would lead us to neutral zone in nearest term and activate my wait and see mode as direction would become unclear, testing 126.99 – 126.60 support area but also could create a false breakout scenario, pushing the pair lower.

AUDUSD Forecast
The AUDUSD had a significant bullish momentum yesterday, convincingly closed above 1.0790. This fact could trigger further bullish scenario testing 1.0887 and 1.1010 even aiming for new historical highs. Immediate support is seen around 1.0770/90 (former resistance). A clear break below that area would activate my wait and see mode as direction would become unclear.

About Me
My Articles

EURJPY Forecast
The EURJPY has a bullish momentum yesterday but found a good resistance around the upper line of the symmetrical triangle as you can see on my h4 chart below. As long as price moves inside the triangle the bias remains neutral and need a clear break from the triangle to see clearer direction. A clear break above the triangle and 112.50 resistance area could trigger further bullish pullback testing 113.40 but as long as price moves below 113.40 I still prefer a bearish scenario. On the downside, a clear break below the triangle and 110.64 could trigger further bearish pressure testing 109.45 but note that we need a clear break below 109.45 to continue the bearish scenario and any move above 109.45 still hide potential upside pullbacks as price could be in a consolidation/sideways mode between 113.40 – 109.45.

GBPJPY  Forecast
The GBPJPY had bullish momentum yesterday but again found a good resistance around 127.00 – 128.18 area, which remain a good place for a short position at this phase with a tight stop loss above 128.18. Immediate support which is also the nearest bearish target is seen around 126.60. A clear break below that area could trigger further bearish pressure testing 125.95 support area. The major scenario remains bearish but would need a clear break below 125.95 to continue the bearish scenario retesting 124.85.

AUDUSD Forecast
The AUDUSD had a significant bullish momentum yesterday and now seems ready to make another retest of 1.0770/90 key resistance area. The bias is bullish in nearest term but note that overall price is still in a consolidation/sideways mode between 1.0770/90 – 1.0500 and I think the best strategy is to short around 1.0770/90 or long around 1.0500 with tight stop loss. I still prefer a bearish scenario at this phase but a clear break above 1.0770/90 could trigger further bullish pressure testing 1.0887 even retesting 1.1010 all time high.

About Me
My Articles

EURJPY Forecast
The EURJPY was indecisive yesterday. On h4 chart below we can see price is moving inside the symmetrical triangle indicates consolidation. The bias is neutral in nearest term. Potential range is seen between 113.40 – 109.45 but overall as long as price stays below 113.40 I still prefer a bearish scenario. Immediate resistance is seen at the upper line of the triangle and 112.50 area. A clear break above the triangle could trigger further upside pullback testing 113.40 key resistance area. Immediate support is seen at 110.64 (yesterday’s low). A clear break below that area could trigger further bearish pressure testing 109.45 but note that we need a clear break below 109.45 to continue the bearish scenario and any move above 109.45 still hide potential upside pullbacks.

GBPJPY  Forecast
The GBPJPY had a moderate bearish momentum yesterday, bottomed 126.64 but closed a little bit higher at 126.98. The bias remains neutral in nearest term but overall as long as price stays below 127.77 – 128.18 I still prefer a bearish scenario at this phase at least testing 125.95 region. Only a clear break above 128.18 could stop my bearish intraday bias testing the trend line resistance (red).

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 1.0559 but whipsawed to the upside and closed higher at 1.0634. The bias is neutral in nearest term and overall price is still in a sideways condition between 1.0770/90 – 1.0500 as you can see on my daily chart below. Immediate support is seen around 1.0600. A clear break below that area could trigger further bearish pressure testing 1.0550 – 1.0500 support area. Immediate resistance is seen at 1.0660. A clear break above that area could trigger further bullish pressure retesting 1.0770/90 key resistance area. I still prefer a bearish scenario at this phase, expecting a huge bearish correction after hit all time high 1.1010.