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Daily Forecast for Crosses: September 13
EURJPY Forecast
The EURJPY continued its bullish momentum yesterday, topped at 100.63. The bias remains bullish in nearest term testing 101.00/60 region. Immediate support is seen around 99.60. A clear break below that area could lead price to neutral zone in nearest term testing 99.00 but as long as stays inside the bullish channel I still prefer to buy on dips.
GBPJPY Forecast
The GBPJPY regained its bullish momentum yesterday topped at 125.60 but traded lower and hit 125.09 earlier today. The bias is neutral in nearest term. Immediate support is seen around 124.50. A clear break and daily close below that area could trigger further bearish pressure testing 124.00 – 123.70. Immediate resistance is seen around 125.50/60. A clear break above that area would keep the bullish scenario after broke above the bearish channel remains strong testing 127.00 region. Overall I still prefer a bullish scenario at this phase.
AUDUSD Forecast
The AUDUSD was indecisive yesterday. Price is still in a bullish intraday phase after broke above 1.0400, interrupted the bearish reversal scenario. Immediate support is seen around 1.0400 followed by 1.0360. My medium outlook is neutral. After the break below the bullish channel, the current bullish intraday phase may testing/revisiting the lower line of the bullish channel and 1.0500 – 1.0600. In my opinion, although intraday bias is bullish, selling around the lower line of the bullish channel is a good idea.
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2012-09-13 02:43:16
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-13-4
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