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EURJPY Forecast
The EURJPY had a bearish momentum yesterday, bottomed at 105.45 but still unable to move consistently below 105.60 support area so far. The bias remains bearish in nearest term testing 104.61 – 103.50. Immediate resistance is seen around 106.00. A clear break above that area could lead price to neutral zone in nearest term testing 106.50 – 107.00 area. On the upside, only a clear break and daily close above 107.45 would stop the current bearish intraday outlook and activate my bullish mode.

GBPJPY  Forecast
The GBPJPY had a significant bearish momentum yesterday, broke below 130.00 and hit 129.26 earlier today. This fact postpones the bullish scenario and turns the nearest term bias to a bearish view testing 128.30 region. On the upside, we need a clear break and daily close back above 130.00 to keep the bullish scenario remains intact and reactivate my bullish mode.

AUDUSD Forecast
The AUDUSD had a strong bearish momentum earlier today after the RBA rate cut, fell back below 1.0400 and hit 1.0316. Technically this fact reactivates my bearish mode testing 1.0200. On the upside, another movement back above 1.0400 would reactivate my wait and see mode and turn the nearest term bias back to a bullish view. Note that market reaction after a fundamental/economic event can be very tricky.

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EURJPY Forecast
The EURJPY failed to continue its bullish momentum last week. This fact could create a false breakout bearish scenario at least in nearest term testing 105.60. The bias is bearish in nearest term. Immediate resistance is seen around 106.75. A clear break above that area could lead price to neutral zone in nearest term retesting 107.45 resistance area. On the upside, we still need a clear break and daily close above 107.45 to activate my bullish mode.

GBPJPY  Forecast
The GBPJPY bullish momentum was stopped last week. The bias is bearish in nearest term testing 130.00 which remains a good place to buy with tight stop loss below 130.00 targeting 133.50. Note that the Japanese Yen is currently having broad strength, probably due to fundamental sentiment and could be a threat for the technical bullishness. On the downside, a clear break and daily close below 130.00 would postpone the bullish scenario and activate my wait and see mode. On the upside, we need a clear break at least back above 131.00 to keep the bullish scenario remains strong.

AUDUSD Forecast
The AUDUSD attempted to push lower last week, bottomed at 1.0246 but whipsawed to the upside and slipped above 1.0450 on broad US Dollar weakness. This fact forces me to activate my wait and see mode and turn nearest term bias to a bullish view testing 1.0600. I still prefer a bearish scenario at this phase but would need a clear break back below 1.0400 to reactivate my bearish mode.

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Good day forex traders!
In the previous EUR/USD forex forecast review we noted that the SMA 20 was bearish while the SMA 50 was turning bearish. Fund…

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EURJPY Forecast
The EURJPY failed to continue its bullish momentum yesterday, bottomed at 106.30 and closed at 106.61. This fact creates a false breakout bearish scenario at least in nearest term testing 105.60. Immediate resistance is seen around 106.85. A clear break above that area could lead price to neutral zone in nearest term retesting 107.45 resistance area.

GBPJPY  Forecast
The GBPJPY failed to continue its bullish momentum yesterday, bottomed at 130.18 and closed at 130.67. The bias is bearish in nearest term but I still prefer a bullish scenario at this phase. Buying around 130.00 seems to be a good idea with good risk – reward ratio targeting 133.50 with tight stop loss below 130.00. A clear break and daily close below 130.00 would lead medium term bias to a neutral zone as direction would become unclear but turn my nearest term bias to a bearish view.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday, bottomed at 1.0270 and hit 1.0246 earlier today. The bias is bearish in nearest term testing 1.0200. A clear break and daily close below 1.0200 could trigger further bearish scenario testing 1.0100 – 1.0000 area. Immediate resistance is seen around 1.0285. A clear break above that area could lead price to neutral zone in nearest term testing 1.0325 but as long as stays below 1.0400 – 1.0450 I remain bearish on this pair.

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EURJPY Forecast
The EURJPY was volatile but indecisive yesterday. Price attempted to push lower bottomed at 104.61 but closed higher at 105.52. The bias is neutral in nearest term but overall my intraday bias remains to the downside. Immediate resistance is seen around 105.80. A clear break above that area could trigger further bullish pressure testing 106.50 region. Immediate support is seen around 105.20. A clear break below that area could trigger further bearish pressure testing 104.50 before testing 103.50.

GBPJPY  Forecast
The GBPJPY attempted to push lower yesterday, bottomed at 127.09 but closed higher at 127.78. The bias is neutral in nearest term but my overall intraday outlook remains bearish with 126.70 as nearest target. Immediate resistance is seen around 128.10. A clear break above that area could trigger further bullish pressure testing 129.00 but only a clear break and daily close above 130.00 could stop the current bearish outlook.

AUDUSD Forecast
The AUDUSD was indecisive yesterday made a Doji on daily chart. There were some downside pressure earlier today hit 1.0308. The bias is bearish in nearest term still testing 1.0200. Immediate resistance is seen around 1.0350. A clear break above that area could lead price to neutral zone in nearest term testing 1.0400 – 1.0450 but overall I remain bearish on this pair with sell on rallies strategy.

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EURJPY Forecast
The EURJPY attempted to push higher last week, topped at 107.45 but whipsawed to the downside and hit 104.94 earlier today. This fact keeps the bearish scenario after the break below the trend line support remains strong. The bias is bearish in nearest term testing 104.50 – 103.50 area. Immediate resistance is seen around 105.60. A clear break back above that area could lead price to neutral zone in nearest term but as long as stays below 107.45 my overall intraday outlook should remain to the downside.

GBPJPY  Forecast
The GBPJPY attempted to push higher last week, topped at 130.21 but whipsawed to the downside and hit 127.53 earlier today. This fact keeps the bearish correction scenario remains intact and the false breakout above 130.00 could trigger further bearish pressure testing 126.70 – 125.50 support area. Immediate resistance is seen around 128.50. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 130.00 I still prefer to sell on rallies at this phase.

AUDUSD Forecast
The AUDUSD was volatile but indecisive last week. Price attempted to push higher, slipped above 1.0400, topped at 1.0451 but closed lower and hit 1.0310 earlier today. My overall technical outlook remains to the downside and the false breakout above 1.0400 could trigger further bearish pressure at least testing 1.0200 even lower. The bias is bearish in nearest term. Immediate resistance is seen around 1.0400 – 1.0450, which is a good place for a short position with a stop loss above 1.0480 at least targeting 1.0200.

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Good day forex traders.
In the previous forex forecast review of the EUR/USD, we noted that both SMAs were flat and that indicated uncertainty. Funda…