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Daily Forecast for Crosses: September 14
EURJPY Forecast
The EURJPY attempted to push lower yesterday, bottomed at 99.50 but whipsawed to the upside and hit 101.30 earlier today. The bias remains bullish in nearest term testing 101.60 – 102.00 region. Immediate support is seen around 100.50. A clear break below that area could lead price to neutral zone in nearest term testing 100.00 but as long as stays inside the bullish channel I still prefer to buy on dips.
GBPJPY Forecast
The GBPJPY attempted to push lower yesterday, bottomed at 124.42 but whipsawed to the upside and hit 125.82 earlier today. The bias is bullish in nearest term testing 127.00. Immediate support is seen around 125.00. A clear break below that area could lead price to neutral zone in nearest term testing 124.50 area but overall I still prefer to buy on dips as a part of the bullish scenario after break above the bearish channel.
AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday and hit 1.0587 earlier today. The bias is bullish in nearest term testing 1.0610 area. As you can see on my daily chart below price revisited the lower line of the (violated) bullish channel so although intraday bias is bullish selling around 1.0600 region is still a good idea with a tight stop loss as a clear break and daily/weekly close above 1.0600 could trigger further bullish scenario testing 1.0800 region. Immediate support is seen around 1.0520/00. A clear break below that area could lead price to neutral zone in nearest term but only a clear break below 1.0400 could interrupt the current bullish intraday bias.
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2012-09-14 13:07:29
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-14-3
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