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 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 made indecisive movement yesterday indicating consolidation. However, as you can see on h4 chart below, price still move above the trendline support (blue) indicating the pressure is still more to the upside with 131.75 as the nearest bullish target. I think we are in a good place to place a long position with tight stop loss below the trendline support. Good technical set up and risk-reward ratio.

GBPJPY Forecast
The GBPJPY had a moderate bullish momentum yesterday, topped at 146.91 and closed at 146.60. This fact should keep my bullish scenario intact but we need a consistent move above 146.80 area to confirm bullish scenario towards 147.60 and 148.50 area. Immediate support at 145.60 followed by 144.85. Only break below 144.85 should be seen as potential threat to my bullish outlook.

AUDUSD Forecast
As I had expected, the AUDUSD continued its bearish momentum yesterday, bottomed at 0.8954 but closed higher at 0.8999 after rejected to move above the trendline resistance area, as you can see on my h4 chart below. The bias remains bearish targeting 0.8915 area. Immediate resistance at 0.9030. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase.

EURJPY Forecast
My technical study was a mess yesterday. Price failed to continue its bullish momentum, bottomed at 132.36 and closed at 132.49. The bias is bearish in nearest term testing 131.75 but as long as the pair stay above 131.75, the major bullish scenario should remains intact. I prefer to stand aside for now and watch any reaction around 131.75 area before make any decisions today. Immediate resistance at 133.00 area. Break above that area should trigger further bullish momentum testing 133.50 area. CCI just cross the -100 line down on h4 chart suggesting potential downside pressure.

GBPJPY Forecast
CCI gave us a valid bearish correction yesterday as price bottomed at 146.61 and closed at 147.01. The bias is neutral in nearest term but bullish scenario is still intact and I still prefer a bullish scenario. I think I will stand aside for now and wait for further development. Immediate resistance at 147.60 area. Break above that area should be seen as the end of bearish correction and continue bullish re-testing 149.15 area. Initial support at 145.40. Break below that area should be seen as serious threat to the bullish outlook.

AUDUSD Forecast
The AUDUSD made indecisive movement yesterday, formed a Doji on daily chart. Price attempted to push lower, bottomed at 0.9051 but closed higher at 0.9145. As you can see on my h4 chart below, price still move below my trendline resistance (blue) area indicating bearish scenario remains intact. The bias is neutral in nearest term. Immediate support at 0.9090. Break below that area should trigger further bearish momentum testing 0.9030. Initial resistance at 0.9180. Break above that area should trigger further bullish momentum testing the trendline resistance and become potential threat to the bearish outlook.

EURJPY Forecast
The EURJPY continued its bullish momentum yesterday as I had expected. The pair topped at 133.54 and closed at 133.05. Earlier today in Asian session price corrected lower bottomed at 132.48 but still able to maintain bullish momentum and traded around 132.95 at the time I wrote this comment. The bias remains bullish in nearest term targeting 134.00. Immediate support at 132.48 followed by 131.75. Buy the dips remains the best strategy for me.

GBPJPY Forecast
The GBPJPY bullish momentum was paused yesterday. On h4 chart below we can see that price retreat lower towards my minor trendline support (former resistance). Although a movement back towards the trendline after violation is normal and the trendline support still hold so far, this fact should be considered as potential threat to the bullish scenario, especially if price break below the trendline today, which could be considered as potential false breakout and trigger significant downside momentum testing 144.60 area. On the upside, 147.65 area remains a potential target support by Japanese government policy to weaken the Yen on fundamental side and hammer candlestick formation on technical side. I still prefer buy the dips strategy for this pair.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9321 but further bullish momentum was rejected as price whipsawed to the downside and closed lower at 0.9231. The bias is neutral in nearest term and I think we are in no trading zone. On h4 chart below we can see that price is now moving below my trendline support indicating potential false breakout scenario which could trigger further bearish pressure testing 0.9180 support area. Break below that area should trigger further bearish momentum testing 0.9100 area. Immediate resistance at 0.9270 followed by 0.9327 area.