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Daily Forecast for Crosses: August 28
EURJPY Forecast
The EURJPY had a bearish pressure earlier today slipped below 98.00. The bias is bearish in nearest term testing 97.50/00 but as long as stays inside the bullish channel I still prefer to buy on dips. Immediate resistance is seen around 98.50. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish correction phase remains strong testing 100.00 area.
GBPJPY Forecast
The GBPJPY had a bearish pressure earlier today, slipped below 124.00. The bias is bearish in nearest term testing 123.20. Immediate resistance is seen around 124.50. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish scenario after the break above the bearish channel remains strong testing 125.00/50 region.
AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday and hit 1.0344 earlier today. The bias remains bearish in nearest term testing 1.0200 after the break below the bullish channel as you can see on my daily chart below. Immediate resistance is seen around 1.0400. A clear break above that area could lead price to neutral zone in nearest term but only a movement back above 1.0450 could interrupt the current bearish reversal outlook.
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2012-08-28 12:31:56
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-august-28-2
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