Daily Forecast for Crosses

Thursday, July 15, 2010

EURJPY Daily Forecast

The EURJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but we are still in upside correction phase as long as price move inside the bullish channel with 113.50 remains the nearest target before testing 115.50 area. Immediate support at 111.50 and the lower line of the bullish channel. Break below that area could be a serious threat to the upside scenario.

GBPJPY Daily Forecast

The GBPJPY attempted to push higher yesterday, topped at 135.79 but closed lower at 134.90. The bias remains neutral medium term but potentially remains to the upside in nearest term as price is now moving inside a minor bullish channel as you can see on h4 chart below testing 136.30 key resistance area. Immediate support at 134.10 followed by 133.15 area. Break below 133.15 could trigger further bearish pressure testing 130.50 region.

AUDUSD Forecast

The AUDUSD slipped above 0.8858 yesterday but still unable to move consistently above that area. The bias remains bullish in nearest term but we need a consistent move above 0.8858 to continue the bullish scenario testing 0.8970 and 0.9025 area. Immediate support at 0.8700 - 0.8660 area.

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