On-Line Forex Trading Tips

EURJPY Forecast
The EURJPY attempted to push higher yesterday, slipped above 126.89, topped at 127.07 but whipsawed to the downside and closed lower at 125.60. This fact should keep the bearish scenario intact and I will stay with sell on rallies strategy. Only a consistent move above 126.89 area could be seen as potential threat to the bearish outlook. On the downside, nearest target remains around 124.50. Break below that area should continue the bearish momentum towards 122.10.

GBPJPY Forecast
The GBPJPY attempted to push higher yesterday, topped at 147.21 but whipsawed to the downside and closed lower at 145.07. On daily chart below we can see that price is not able to make a clear direction and still struggling around the lower line of the triangle. However, actually overall the pressure is more to the downside. The bias is neutral in nearest term and I will stay away from this pair until we have a clearer direction. Immediate support at 143.63. Break below that area should be seen as bearish confirmation targeting 141.50 even 139.29 area. Initial resistance at 146.00 followed by 147.20 area.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9046 but whipsawed to the downside and closed lower at 0.8944. This fact should keep the bearish scenario intact targeting 0.8810 area. Immediate resistance at 0.8980. Break above that area should lead us into no trading zone but I still prefer a bearish scenario with sell on rallies strategy.

EURJPY Forecast
The EURJPY made indecisive movement yesterday, formed a Doji on daily chart indicating consolidation, but I still prefer a bearish scenario with sell on rallies strategy at this phase with potential nearest target remains around 124.50. Immediate resistance at 126.89. Break above that area should lead us into no trading zone as direction would become unclear for me.

GBPJPY Forecast
The GBPJPY failed to continue its bearish momentum yesterday. Price now go back inside the triangle, lead us back into no trading zone area as direction is unclear in nearest term. However, the rejection to move consistently below the triangle could potentially produce a false breakdown scenario which could trigger a significant upside momentum. Immediate support at 144.70. Break below that area should trigger further bearish momentum back towards 143.63 before testing 142.00 area. Initial resistance at 146.00. Break above that area should trigger further bullish momentum towards 147.27 area.

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, break below 0.8980, bottomed at 0.8910 but closed higher at 0.8950. The bias is neutral in nearest term but the fact that price is now consistently move below 0.8980 suggests further bearish scenario towards 0.8810 area this week especially if we have a break below 0.8910 area. Another move back above 0.8980 should lead us into no trading zone as direction would become unclear in nearest term but overall I still prefer a bearish scenario with short on rallies strategy.

EURJPY Forecast
My technical strategy to short around the trendline resistance worked perfectly yesterday as price had a significant bearish momentum, bottomed at 125.66 and closed at 126.14. The bias is bearish in nearest term targeting 124.50. Immediate resistance at 126.89. Break above that area should lead us into no trading zone in nearest term but I still prefer a bearish scenario at this phase.

GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday. On daily chart below we can see that price slipped below the triangle indicating potential bearish outlook. The bias is bearish in nearest term targeting 143.15 – 142.00 area. However if price goes back inside the triangle, we are back in no trading zone as direction would become unclear. Immediate resistance at 145.00. Break above that area should trigger further bullish momentum testing 146.08 area.

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, break below 0.8980, but failed to consistently move below range area. This fact could trigger a false breakdown scenario which could produce further bullish correction testing 0.9090 area. However, overall the bearish scenario remains intact and I still prefer a bearish scenario with sell on rallies strategy. Break below 0.8980 should trigger further bearish momentum targeting 0.8910.

EURJPY Forecast
The EURJPY is corrected higher, traded around 128.11 at the time I wrote this comment after failed to consistently move below 126.89. This fact could trigger further bullish correction, but as long as price stay below the trendline, the bearish scenario remains intact. In fact, I think the trendline area is a good place for a short position with a tight stop loss above it. A good technical set up and risk-reward ratio. Break above the trendline should be seen as serious threat to the bearish scenario and trigger bullish momentum towards 129.00. Break above 129.00 should be seen as bearish failure and a new bullish scenario targeting 130.70 area. Immediate support at 127.50. Break below that area should trigger further bearish scenario re-testing 126.89 and keep the bearish scenario intact.

GBPJPY Forecast
The GBPJPY failed to continue its bearish momentum yesterday, topped at 146.71 and closed at 146.59. If you notice, I have made some adjustment to the triangle. I think we are in no trading zone now and I prefer to stand aside as direction is unclear for me. We need a break from the triangle area to see clearer direction. Immediate support at 146.00 area. Break below that area should trigger further bearish momentum testing the lower line of the triangle. Initial resistance at 147.50. Break above that area should trigger further bullish momentum testing the upper line of the triangle.

AUDUSD Forecast
The AUDUSD made another indecisive movement yesterday. On h4 chart below we can see that price still trapped in range area of 0.8980 – 0.9090. So far, we have nothing significant technically. The bias remains neutral in nearest term and we need a break from that range area to see clearer direction but overall I still prefer a bearish scenario with sell on rallies strategy. Break above 0.9090 should trigger further bullish correction towards 0.9170 while break below 0.8980 should trigger further bearish momentum towards 0.8910.

EURJPY Forecast
The EURJPY had a volatile but indecisive movement on Friday. Price attempted to push lower, slipped below 126.89 support area but closed higher at 127.07. This rejection to consistently move below 126.89 area could trigger further bullish correction but as long as price stay below the trendline (red) I still prefer a bearish scenario. Immediate resistance at 128.18 (Friday’s high). Break above that area should trigger further bullish scenario testing key resistance level 129.00.

GBPJPY Forecast
The GBPJPY continued its bearish momentum on Friday, bottomed at 144.60 and closed at 144.79. The bias is bearish in nearest term targeting 143.15 area. However CCI about to cross the -100 line up on h4 chart so watch out for potential upside correction testing 145.50. Break above that area should lead us into no trading zone, trigger further bullish correction towards 146.50/60 area but I still prefer a bearish scenario at this phase with sell on rallies strategy.

AUDUSD Forecast
The AUDUSD made indecisive movement on Friday. On h4 chart below we can see that price is moving between 0.8980 – 0.9090 area at this phase. Overall I still prefer a bearish scenario but the bias is neutral in nearest term and we need a break from that range area to see clearer direction. Break above 0.9090 should trigger further bullish correction towards 0.9170 while break below 0.8980 should trigger further bearish momentum towards 0.8910.

EURJPY Forecast
The EURJPY had a significant technical movement yesterday by break below the trendline support, bottomed at 127.04, closed at 127.36 and touched 126.51 level earlier today in Asian session before corrected higher around 127.33 at the time I wrote this comment. This fact should trigger further bearish scenario but we need a consistent move below 126.89 area to continue bearish towards 124.40/50 area. The bias is neutral in nearest term but I prefer a bearish scenario at this phase. Immediate resistance at 127.60 – 128.00 area.

GBPJPY Forecast
The GBPJPY finally made a significant technical movement yesterday. Price break below the triangle, indicating potential bearish outlook testing 139.29 area in longer term of view. The bias is bearish in nearest targeting 144.50 but we need a consistent move below 145.50 support area to continue the bearish scenario. Immediate resistance at 147.00. Break above that area should lead us into no trading zone but I prefer a bearish scenario at this phase.

AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday, bottomed at 0.8996 and closed at 0.8998 but can not stay consistently below 0.9015 so far. The pressure should remains to the downside but we need a consistent move below 0.9015 to continue the bearish scenario targeting 0.8910 area. Immediate resistance at 0.9090. Break above that area should lead us into no trading zone.

EURJPY Forecast
The EURJPY had a significant bearish momentum yesterday, bottomed at 128.40 and closed at 128.67. The bias should remains to the downside but as you can see on my daily chart below this pair seems to have a strong support at the trendline support area (red). A move back above 129.00 area should at least give us a signal that rejection to move below the trendline support could trigger some upside correction towards 130.50 area. However once the trendline support is broken, the bearish pressure should continue its momentum targeting 126.89 area.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, still trapped in the triangle area. Since we still have no significant technical movement, I think we are still in no trading zone and need a break from the triangle to see clearer direction. Breakout from the triangle should trigger further bullish scenario towards 153.22 while a breakdown below the triangle should trigger further bearish pressure towards 145.50 area.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday, bottomed at 0.9071 and closed at 0.9099 but corrected higher earlier today in Asian session traded around 0.9129 at the time I wrote this comment. I think the pressure should remains to the downside but we need a consistent move below 0.9090 area to confirm bearish scenario testing 0.9000 area. Immediate resistance at 0.9170. Break above that area should trigger further bullish correction but I still prefer a bearish scenario at this phase.

EURJPY Forecast
The EURJPY made indecisive movement yesterday. We have nothing significant technically and the bias is neutral in nearest term but I still prefer a bearish scenario at this phase especially we we have a valid break below 130.00 targeting 129.00 area. Immediate resistance at 131.30. Break above that area should be seen as a serious threat to the bearish outlook.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, but earlier today in Asian session we have some upside pressure. However, as you can see in my daily chart below, price still trapped in triangle area indicating consolidation (I made some adjustment to the triangle). I think we are in no trading zone and I prefer to stand aside for now and wait for further development. We need a clear break from the triangle to see clearer direction. Immediate resistance at 149.95. Break above that area should be seen as potential bullish scenario. Initial support at 148.00 area. Break below that area should be seen as potential bearish scenario.

AUDUSD Forecast
The AUDUSD failed to continue its bearish momentum yesterday, topped at 0.9278 and closed at 0.9261. This fact lead me to a no trading zone area but the bias is to the upside in nearest term. My bearish scenario should remains intact as long as price move below 0.9325 area, which is for me a good place for a short position with a tight stop loss above it. Immediate support at 0.9240 area. Break below that area should trigger further bearish momentum and keep the bearish scenario towards 0.9110 intact.