On-Line Forex Trading Tips

EURJPY Forecast

The EURJPY attempted to push higher yesterday, topped at 132.59 but the bullish momentum was limited as price closed lower at 132.04. However, the fact that price so far able to stay above 131.75 area should lead us into a new phase of bullish scenario targeting 133.50 area. 131.75 area seems to be a good place for long position with tight stop loss below that level . Good technical set up and risk-reward ratio. Break below 131.75 area should lead us into no trading zone as direction would become unclear for me.

GBPJPY Forecast

The GBPJPY failed to continue its bullish momentum yesterday. On h4 chart below we can see that price still trapped in range area of 145.65 – 146.85 area. If you notice, I have made some adjustment to my trendline support. For me as long as the pair stay above 145.65 area I still prefer a bullish scenario. The bias is neutral in nearest term and we need a valid break from the range area to see clearer direction.

AUDUSD Forecast

The AUDUSD had a significant bullish momentum yesterday. On h4 chart below we can see that price had a nice bullish momentum after break above my minor terndline resistance (blue), topped at 0.8991 but bullish momentum was stopped by major trendline resistance (red) and traded around 0.8928 at the time I wrote this comment. This fact bring me to a conclusion that the bullish correction should be over now and price should continue to move in its bigger trend, bearish at least targeting 0.8850 area. Only break above the major trendline resistance should be seen as serious threat to the major bearish scenario.

EURJPY Forecast

The EURJPY didn’t make significant movement yesterday. Price is now attempting to push higher above 131.75 area, but never really able to move convincingly above that level so far. On h4 chart below we have an ascending triangle after some bullish momentum indicating potential bullish continuation scenario especially if we have a valid breakout above the triangle, which is also above 131.75 area targeting 132.70 even 133.50 area. However if this bullish ascending triangle fails and price violate the triangle to the downside, price should significantly fall testing 130.90 and 130.05 area. I am expecting to see a valid break from the triangle area to see clearer direction, then just follow it.

GBPJPY Forecast

The GBPJPY had a moderate bullish momentum yesterday, topped at 146.66 and closed at 146.58. This fact should keep the bullish scenario intact, but we need a consistent move above 146.80 area to continue the bullish scenario towards 149.05 area. On the downside, key support area is seen around the trendline support (blue). Break below that trendline support should be seen as serious threat to the bullish scenario. Immediate support at 146.00 – 145.80 area.

AUDUSD Forecast

The AUDUSD had a significant technical movement yesterday by break above 0.8850 area. The bearish scenario is clearly in a serious threat. On h4 chart below we can see that the bullish momentum found a resistance at the minor trendline resistance (blue). We need a break above that trendline to confirm the bullish scenario targeting 0.9020. Another movement below 0.8850 could be seen as a false breakout which could trigger significant bearish momentum re-testing 0.8733 area.

EURJPY Forecast
The EURJPY continued its moderate bullish momentum on Thursday, topped at 131.86 but still unable to close convincingly above 131.75 area. The bullish scenario should remains intact but a failure to move consistently above 131.75 area and a break below 131.05 support area today should be seen as a false breakout which could trigger further bearish momentum towards 130.05 area. Consistent move above 131.75 should continue the bullish scenario at least towards 132.50 area.

GBPJPY Forecast
The GBPJPY made indecisive movement on Thursday, formed a Doji on daily chart. On h4 chart below we can see that price is moving near the trendline support area. Since overall the bullish scenario remains intact, I think we have a good technical set up to place a long position around the trendline support area with tight stop loss below it targeting least 146.80 area. Break above that area should trigger further bullish momentum towards 148.50 area. Immediate support at 145.50. Break below that area could be seen as potential bullish failure and trigger further bearish momentum towards 144.85 area.

AUDUSD Forecast
The AUDUSD continued its bullish correction on Thursday, topped at 0.8859 and closed at 0.8839. The bearish scenario is in serious threat, but should remains intact. I think we have potential trading opportunity at this phase. Long position if we have a consistent move above 0.8850 (bearish failure) area targeting 0.8950 or a short position below 0.8800 area (bearish intact) targeting 0.8650. I still prefer a bearish scenario at this phase.

EURJPY Forecast
The EURJPY continued its bullish momentum yesterday, topped at 131.06 and closed at 130.86. The bias should remains to the upside targeting 131.75. However CCI just cross the 100 line down on h4 chart so watch out for potential bearish correction testing 130.05 area. Break below that area should trigger further bearish correction testing 129.00 area but that will lead me into no trading zone as direction would become unclear for me.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday. Overall the pressure remains to the upside but as you can see on my h4 chart below price still struggling around 146.80 area indicating bullish paused and consolidation. We need a consistent move above 146.80 to continue the bullish scenario towards 148.50 this week. Immediate support 145.90 area. Break below that area should trigger further bearish correction but as long as price move above the trendline support (red) I still prefer a bullish scenario.

AUDUSD Forecast
The AUDUSD had a moderate bearish momentum yesterday, bottomed at 0.8741 and closed at 0.8748. The bias should remains to the downside. I believe, after break below 0.8850 area this pair should continue the bearish momentum at least targeting 0.8650 area before testing key support level around 0.8500 area this month. Immediate resistance at 0.8800 – 0.8850. Break above that area should trigger further bullish correction but as long as the trendline resistance (blue) hold, I still prefer a bearish scenario for this pair.

EURJPY Forecast
The EURJPY continued its bullish momentum yesterday, topped at 130.36 and closed at 130.11. On h4 chart below we can see that overall price still trapped in range area of 129.00 – 131.75 area but price slipped above my minor trendline resistance (now support) indicating the pressure is more to the upside now targeting 131.75 area. A good technical set up and risk-reward ratio for me with stop loss below the trendline.

GBPJPY Forecast
The GBPJPY had a moderate bullish momentum yesterday, topped at 146.46 and closed at 146.25. Overall price still trapped in range area of 144.85 – 146.80 but the pressure should remains to the upside. However we need a valid break above 146.80 area to continue the bullish scenario targeting 148.50 area. Immediate support at 145.45 area. Break below that area should trigger further bearish pressure re-testing 144.85 area.

AUDUSD Forecast
As I had expected, the AUDUSD continue its bearish momentum yesterday, bottomed at 0.8782 and closed at 0.8800. The bias remains bearish in nearest term targeting 0.8650 area. Immediate resistance at 0.8850 area. Break above that area should lead us into no trading zone but long position is not recommended at this phase. I prefer short on rallies strategy.

EURJPY Forecast
My decision to stand aside on Friday saved me from a losing trade as this pair was technically a mess. The pair failed to continue its bearish momentum, topped at 130.00 and closed at 129.69. I think I will keep stay away from this pair as I can not see clear direction. Aggressive traders may place a long position around 129.00 support area with tight stop loss below it targeting 130.70.

GBPJPY Forecast
The GBPJPY had a volatile movement on Friday. Generally price had a bullish momentum after the false breakdown as you can see on h4 chart below. I do not like a high volatile market since for me it indicates a relative equal bullish and bearish power which give me only 50-50 probability. However technically the bullish scenario should remains intact and I prefer a bullish scenario with 146.80 as the nearest target. Valid break above that area should trigger further bullish momentum and take us into new bullish phase targeting 148.50 area. On the downside 144.85 and the trendline support area should be a key support level at this phase. Consistent movement below the trendline should be seen as bullish failure and could trigger further bearish pressure at least re-testing 143.75 area.

AUDUSD Forecast
The AUDUSD attempted to push lower on Friday, bottomed at 0.8809 but closed higher at 0.8897. I think this was a normal upside pullback. On h4 chart below we can see that price is able to stay below key level 0.8915 indicating potential bearish continuation at least targeting 0.8750 area. Break above 0.8915 area should lead us into no trading zone but overall the bearish scenario should remains in control and long position is not recommended at this phase.