dailyforexnews
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- Oct 29, 2009
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EURJPY Forecast
As I had expected, the EURJPY had another bearish momentum yesterday, hit my target at 134.40, even further, bottomed at 133.25. The bias remains bearish in nearest term targeting 131.00 before aim for 127.00 area. Immediate resistance at 134.00/40 area. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase and long position is not recommended.
GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday, break below my support area at 149.40, bottomed at 148.28 and closed at 148.69. On h4 chart below we can see that the pair is moving in a bearish channel indicating bearish tone. This fact should lead us to further downside pressure targeting at least 146.50 area. Immediate resistance at 148.50 area. Break above that area should lead us into no trading zone but I still prefer a bearish scenario and long position is not recommended at this phase.
AUDUSD Forecast
The AUDUSD had a significant bearish momentum yesterday, break below 0.9090, bottomed at 0.8961 and closed at 0.8997. On h4 chart below we can see how violation of the bullish channel can trigger a bearish reversal scenario. This fact is nothing but a bullish failure for me and potential further bearish scenario targeting 0.8860 area. Immediate resistance at 0.9030 followed by 0.9090 area. Break above those area should lead us into no trading zone as direction would become unclear in nearest term but I prefer a bearish scenario at this phase.
As I had expected, the EURJPY had another bearish momentum yesterday, hit my target at 134.40, even further, bottomed at 133.25. The bias remains bearish in nearest term targeting 131.00 before aim for 127.00 area. Immediate resistance at 134.00/40 area. Break above that area should lead us into no trading zone but I still prefer a bearish scenario at this phase and long position is not recommended.
GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday, break below my support area at 149.40, bottomed at 148.28 and closed at 148.69. On h4 chart below we can see that the pair is moving in a bearish channel indicating bearish tone. This fact should lead us to further downside pressure targeting at least 146.50 area. Immediate resistance at 148.50 area. Break above that area should lead us into no trading zone but I still prefer a bearish scenario and long position is not recommended at this phase.
AUDUSD Forecast
The AUDUSD had a significant bearish momentum yesterday, break below 0.9090, bottomed at 0.8961 and closed at 0.8997. On h4 chart below we can see how violation of the bullish channel can trigger a bearish reversal scenario. This fact is nothing but a bullish failure for me and potential further bearish scenario targeting 0.8860 area. Immediate resistance at 0.9030 followed by 0.9090 area. Break above those area should lead us into no trading zone as direction would become unclear in nearest term but I prefer a bearish scenario at this phase.
