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Daily Forecast for Crosses: September 04
EURJPY Forecast
The EURJPY was indecisive yesterday but overall still able to maintain its bullish bias and hit 98.98 earlier today. Price also still able to move inside the bullish channel as you can see on my daily chart below. The bias is bullish in nearest term still testing 100.00. Immediate support is seen around 98.50. A clear break below that area could lead price to neutral zone in nearest term testing 97.80 and the lower line of the bullish channel.
GBPJPY Forecast
The GBPJPY was indecisive yesterday but overall still able to maintain its bullish bias and hit 124.65 earlier today. The bias is bullish in nearest term but note that price is still trapped in the range area and need a clear break at least above 124.80 to continue the bullish scenario testing 125.00/50 region. On the downside, a clear break and daily close below 123.70 could be a threat to the bullish scenario after broke above the bearish channel testing 123.20/00 support area.
AUDUSD Forecast
The AUDUSD was corrected higher earlier today, hit 1.0283. The bias is bullish in nearest term but as long as stays below 1.0400 I still prefer to sell on rallies as a part of the bearish scenario after fell below the bullish channel as you can see on my daily chart below with nearest bearish target remains around 1.0200.
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2012-09-04 01:19:16
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-04-2
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