On-Line Forex Trading Tips

EURJPY Forecast
The EURJPY attempted to push lower yesterday, bottomed at 119.64 but closed higher at 120.71 and keep moving higher around 121.04 at the time I wrote this comment. The bias is neutral in nearest term and I think we are in no trading zone area but the main outlook should remain bearish. On h4 chart below we can see that price is testing the upper line of the minor bearish channel. Although the main trend should remain bearish, violation to the minor bearish channel should trigger further upside correction testing 123.00 area.

GBPJPY Forecast
The GBPJPY had a significant bearish momentum yesterday, bottomed at 134.95 , closed higher at 135.99 and keep corrected higher around 136.23 at the time I wrote this comment. This fast should keep the bearish scenario intact with technical target around 131.50 area. The nearest bias is neutral as price already in extreme oversold area and show some signs of potential upside correction but as long as price stay below 137.30 I still prefer a bearish scenario today.

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 0.8801 but closed higher at 0.8881. The bias is neutral in nearest term but overall I still prefer a bearish scenario at this phase. Immediate resistance at 0.8910/20 area. Break above that area should trigger further bullish correction testing 0.9040. Initial support at 0.8801 – 0.8780 area. Consistent move below that area should trigger further bearish scenario targeting 0.8576 area in longer term.

EURJPY Forecast
The EURJPY didn’t make significant movement yesterday indicating consolidation. The nearest bias is neutral but I still prefer a bearish scenario with sell on rallies strategy since the bullish channel violation indicates bullish failure testing 120.69 area. Immediate resistance at 122.59 (yesterday’s high). Break above that area should lead us into no trading zone as direction would become unclear.

GBPJPY Forecast
The GBPJPY was indecisive yesterday indicating consolidation but overall I still prefer a bearish scenario after violation of the bullish channel indicates bullish failure, testing 138.23 area before aim for 137.30 area. Immediate resistance at 139.57 – 139.90 area. Break above that area should lead us into no trading zone as direction would become unclear.

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 0.8856 but closed significantly higher at 0.8934. This fact should lead us in no trading zone in nearest term. I still prefer a bearish scenario since the bullish channel violation indicates bullish failure but we need a consistent move below 0.8910 area to continue bearish scenario targeting 0.8780 area. Immediate resistance at 0.8980 followed by 0.9040.

EURJPY Forecast
The EURJPY continued its bearish scenario yesterday, bottomed at 121.56 and closed at 121.85 after a false breakout above 124.80. On h4 chart below we can see that the bullish channel has been violated to the downside indicating bullish failure and potential further bearish scenario targeting 120.69 area. Immediate resistance at 122.50 – 123.00 area. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase.

GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday, bottomed at 138.72 and closed at 139.11. After the violation to the bullish channel the outlook should be a bearish one. The bias remains bearish in nearest term targeting 138.23 area. Immediate resistance at 139.90. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday, violated the bullish channel but still not able to stay consistently below 0.8910 area so far. I prefer a bearish scenario at this phase but we need a consistent move below 0.8910 area to continue the bearish scenario targeting 0.8780 area. Immediate resistance at 0.8950 area. Break above that area should lead us into a consolidation phase with expected range at 0.9040 – 0.8910.

EURJPY Forecast
The EURJPY had a bearish momentum yesterday after price failed to consistently move above 124.80 area. This fact could be seen as a false breakout scenario which could produce significant bearish momentum testing 123.00 area but as long as price still move inside the minor bullish channel, the bullish correction scenario should remain intact.

GBPJPY Forecast
The GBPJPY made a significant technical movement by violated the bullish channel as you can see on my h4 chart below. This fact should be seen as bullish failure and potential bearish scenario targeting 139.80 area. Immediate resistance at 141.70 area. Break above that area should lead us into no trading zone as direction would become unclear for me.

AUDUSD Forecast
The AUDUSD was indecisive yesterday, formed a Doji on daily chart. On h4 chart below we can see that price still move inside the bullish channel indicating the bullish scenario remains intact (I have made some adjustment to the bullish channel). Expected range at 0.9040 – 0.8910 area. We need a break on either side to see clearer direction towards 0.9140 or 0.8780 area. Aggressive traders may short around 0.9040 or long around 0.8910 with a tight stop loss.

EURJPY Forecast
The EURJPY had a significant technical movement earlier today in Asian market, break above 124.80 resistance area. This fact should continue the bullish correction scenario target 126.40 area in nearest term. Another movement back below 124.80 should lead us into no trading zone but the minor bullish correction scenario should remain as long as price move inside the bullish channel.

GBPJPY Forecast
As you can see on h4 chart below, the lower line of the bullish channel was proved to be a good support area at this phase as price bounced higher after failed to move below it indicating the bullish correction scenario remains intact at least targeting 143.00 area. Immediate support at 141.40 area. Consistent move below that area and below the bullish channel should be seen as a serious threat to the bullish correction scenario and continue the bearish scenario re-testing 139.50 even 138.23 area.

AUDUSD Forecast
The AUDUSD attempted to push lower on Friday, slipped below 0.8910, bottomed at 0.8877 but closed higher at 0.8982. This fact could be seen as a false breakdown scenario which could trigger significant bullish momentum testing 0.9040 area. Break above that area should lead us into further bullish scenario targeting 0.9140 area. Immediate support around 0.8910/50 region.

EURJPY Forecast
The EURJPY made another indecisive movement yesterday, formed another Doji on daily chart indicating consolidation. On h4 chart below we can see that after had a significant bearish movement in major bearish channel, price corrected to the upside, moving in a new minor bullish channel but found a good support around 124.80 area. It seems like price need to break above that area to continue further bullish correction. Immediate support at 122.75 area (yesterday’s low) and the lower line of the bullish channel. Violation to the bullish channel should be seen as the end of the bullish correction phase and continue its major bearish scenario.

GBPJPY Forecast
The GBPJPY attempted to push lower yesterday, bottomed at the lower line of the bullish channel but closed higher at 142.49. Earlier today in Asian session, price made another downside pressure, re-testing the lower line of the bullish channel. The bias is bearish in nearest term but we need a consistent move below the bullish channel to confirm further bearish momentum targeting 139.70 area. Immediate resistance at 143.00 area. Break above should continue the bullish correction scenario.

AUDUSD Forecast
The AUDUSD had a moderate bearish momentum yesterday, but as you can see on my h4 chart below, the bullish channel has been violated to the downside indicating potential bullish failure, especially if price able to move consistently below 0.8910 area targeting 0.8780 area. Immediate resistance at 0.9000 followed by 0.9040 area.