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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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In the previous review we noted that the SMAs were flat. No candles closed above the 1.32 line and there was a gentle bearish…

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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 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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EURJPY Forecast
The EURJPY continued its bearish momentum yesterday, slipped below 105.60 and now struggling around that area. The bias remains bearish in nearest term especially if price able to move consistently below 105.60 testing 104.00 – 103.50 area. Immediate resistance is seen around 106.20. A clear break above that area could lead price to neutral zone in nearest term testing 107.00/50 area but as long as stays below 108.00 my overall intraday bias remains to the downside as a part of the bearish scenario after the break below the trend line support.

GBPJPY  Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 127.85. The bias remains bearish in nearest term testing 126.70 – 125.50 region. Immediate resistance is seen around 128.80. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 130.00 my overall intraday bias remains to the downside as a part of the bearish correction scenario after the failure to break above 133.50 and fell below 130.00.

AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday, bottomed at 1.0225 but corrected higher earlier today hit 1.0292. The bias is neutral in nearest term but overall I remain bearish on this pair with short on rallies strategy. Immediate resistance is seen around 1.0350 followed by 1.0400.

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EURJPY Forecast
The EURJPY had a bullish momentum yesterday, topped at 107.23, hit 107.45 earlier today but traded lower around 106.65 at the time I wrote this comment. The bias is bearish in nearest term as a part of the bearish correction phase after broke below the trend line support as you can see on my daily chart below still testing 105.60. On the upside, a clear break above 107.50 could lead price to neutral zone in nearest term testing 108.00 resistance area.

GBPJPY  Forecast
The GBPJPY had a bullish momentum yesterday, topped at 129.89, hit 130.21 earlier today but traded lower around 129.50 at the time I wrote this comment. The bias is bearish in nearest term still testing 128.00/20. On the upside, a clear break and daily close back above 130.00 would lead price to neutral zone in nearest term but could potentially end the current bearish correction phase.

AUDUSD Forecast
The AUDUSD was indecisive yesterday, made a Doji on daily chart. There were some upside pressure earlier today hit 1.0355 but further bullish momentum was rejected and traded lower around 1.0310 at the time I wrote this comment. The bias remains bearish in nearest term testing 1.0200. On the upside, a clear break above 1.0355 would lead price to neutral zone in nearest term testing 1.0400 but overall I remain bearish on this pair and still prefer to short on rallies.

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EURJPY Forecast
The EURJPY had a significant bearish momentum last week, broke below the trend line support as you can see on my daily chart below. The bias is bearish in nearest term testing 105.60. Immediate resistance is seen around 107.00. A clear break above that area could lead price to neutral zone in nearest term testing 107.80.

GBPJPY  Forecast
The GBPJPY had a significant bearish momentum last week, broke below 130.00 support area. This fact postpone the bullish scenario and turn my short term technical bias to a bearish view testing 128.00/20 region. Immediate resistance is seen around 130.00. A clear break back above that area could lead price to neutral zone in nearest term testing 131.00 area.

AUDUSD Forecast
The AUDUSD continued its bearish momentum last week. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.0200. Immediate resistance is seen around 1.0320/50. A clear break above that area could lead price to neutral zone in nearest term testing 1.0400 but overall I still prefer to short on rallies at this phase.

GBPUSD  Forecast
The GBPUSD failed to continue its bullish momentum last week after the false breakout above 1.6000 and slipped back below 1.5900. The bias is bearish in nearest term testing 1.5800 support area. A clear break and daily close below tha…