On-Line Forex Trading Tips

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.

EURJPY Forecast
The EURJPY attempted to push lower yesterday, bottomed at 129.16 but closed higher at 129.95. On h4 chart below we can see that the trendline support did a good job preventing further bearish pressure, keep the bullish scenario intact so far. The bias is neutral in nearest term and I think it’s better to stand aside for now. Expected range at 129.00 – 131.75.

GBPJPY Forecast
The GBPJPY mad indecisive movement yesterday, formed a Doji on daily chart. On h4 chart below we can see that the trendline support (red) did a good job preventing further bearish attack, keep the bullish scenario intact. The bias is neutral in nearest term. Immediate resistance at 144.85. Break above that area should trigger further upside momentum towards 145.64. Immediate support at 143.75 area and the trendline support area. Break below that area and below the trendline support should trigger further bearish momentum towards 141.99 area and cancel the bullish scenario. We might have a good place for long position if price move near the trendline support area with tight stop loss below it.

AUDUSD Forecast
The AUDUSD had moderate bullish momentum yesterday, but still failed to break above the trendline resistance area thus should keep the bearish scenario intact. On h4 chart below we can see that once again, price seems to reject to move above the trendline and 0.9180 area. For me, this fact give us a good short opportunity targeting 0.9090 – 0.9030 area with tight stop loss above the trendline resistance and 0.9180 area. Good technical set up and risk-reward ratio.

EURJPY Forecast
The EURJPY attempted to push higher on Friday, topped at 131.57 but further upside momentum was rejected as the pair closed much lower at 130.21. On h4 chart below we can see that price is now testing the trendline support (blue). Break below the trendline support should trigger further significant bearish momentum. The bias is bearish in nearest term targeting 129.00, but medium bias remains neutral and only consistent move below 129.00 could change my medium outlook into a bearish view. Immediate resistance at 131.00 followed by 131.75 area.

GBPJPY Forecast
The GBPJPY had a moderate bullish momentum on Friday, topped at 145.64 but closed lower at 144.87 and continue moving lower around 143.58 area at the time I wrote this comment. On h4 chart below we can see that this was a case of false breakout above 144.85 which is potentially trigger further bearish momentum, especially if price break below the trendline (blue) towards 141.99 area. Immediate resistance at 144.85.

AUDUSD Forecast
The AUDUSD had a significant bearish momentum after a false breakout above 0.9180 and the trendline resistance area and now traded around 0.9063 at the time I wrote this comment. The bias is bearish in nearest term targeting 0.9030 area. Break below that area should trigger further bearish scenario towards 0.8915 area. Immediate resistance at 0.9180. As long as price stay below that area I still prefer a bearish scenario at this phase.

EURJPY Forecast
The EURJPY attempted to push lower yesterday but the 129.00 support area still hold at this phase preventing further bearish attack and push price higher above the trendline indicating potential upside pressure testing 131.75 area. The bias is neutral in nearest term as price seems to consolidate now. Only a clear movement below 129.00 could continue further bearish scenario targeting 126.86 area.

GBPJPY Forecast
The GBPJPY attempted to push lower yesterday but the 141.99 area seems to be a good support at this phase as price rebound higher above the trendline after touched that level indicating potential upside pressure testing 144.85 area. Immediate support at 143.30. Break below that area and a movement back below the trendline could trigger another downside attempt re-testing 141.99 support area. Break below 141.99 area could produce further bearish momentum targeting 139.27.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday, topped at 0.9189 but still unable to stay consistently above 0.9180 so far thus could produce a false breakout scenario which trigger bearish momentum testing 0.9030 area especially if price break below 0.9120/30 support area today. This pair is in critical technical point at this phase. CCI just cross the 100 line down on h4 chart suggesting potential downside view. Consistent move above 0.9180 should trigger further bullish momentum testing the trendline resistance area and could be a serious threat to the bearish outlook testing 0.9327 area.

EURJPY Forecast
The EURJPY attempted to push lower yesterday, bottomed at 128.77 but further bearish pressure was rejected as the pair closed higher at 129.69 and keep moving higher earlier today in Asian session around 130.17 at the time I wrote this comment. On h4 chart below 129.00 area and now back above the trendline indicating potential false breakdown which could trigger bullish momentum. The bias is neutral in nearest term and it’s too early to say that the bearish momentum is over as overall, “safe haven currencies” like Yen and Dollar seems to benefit from risk aversion as traders become less optimistic about global recovery. Immediate resistance at 131.75 area. Initial support at 129.00 area. Break below that area should be seen as bearish continuation re-testing 126.86 area.

GBPJPY Forecast
The GBPJPY bearish momentum was also limited yesterday. On h4 chart below we can see that after breakdown below the trendline support, price retreated to the upside testing the trendline support. This fact is often happen technically, but if price back to move above the trendline again should trigger further bullish momentum targeting 144.85 area. Break above that area should change the neutral medium bias to bullish. On the downside, it’s too early to say that the bearish is over as price still struggling around the trendline. “safe haven currencies” like Yen and Dollar seems to benefit from risk aversion as traders become less optimistic about global recovery. Immediate support at 143.10. Break below that area should trigger further bearish momentum targeting 141.99 even 141.02 area.

AUDUSD Forecast
The CCI divergence gave us a valid warning about bullish pullback. Bearish momentum was paused as price moving higher around 0.9156 at the time I wrote this comment. The key resistance level at this phase is 0.9180 and the trendline resistance area. As long as price stay below the trendline resistance the bearish scenario should remains intact. Immediate support at 0.9090 followed by 0.9030. Break below those area could trigger bearish continuation towards 0.8915 area.