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Daily Forecast for Crosses: September 17
EURJPY Forecast
The EURJPY continued its bullish momentum last week, topped at 103.01. The bias remains bullish in nearest term testing 104.00/40 area. Immediate support is seen around 102.50. A clear break below that area could lead price to neutral zone in nearest term testing 102.00 – 101.60 but any downside pullback now is normal and as long as stays inside the bullish channel I still prefer to buy on dips.
GBPJPY Forecast
The GBPJPY continued its bullish momentum last week, topped at 127.26. The bias remains bullish in nearest term testing 128.00/50 area as a part of the bullish scenario after broke above the bearish channel. Immediate support is seen around 126.50. A clear break below that area could lead price to neutral zone in nearest term testing 126.00 – 125.50 but any downside pullback now is normal and overall I still prefer to buy on dips.
AUDUSD Forecast
The AUDUSD continued its bullish momentum last week but unable to close above 1.0600 so far. The bias is neutral in nearest term but as long as stays above 1.0400, price is still in a bullish intraday phase. Selling around 1.0600 is still a good idea with a tight stop loss as a clear break and daily close above that area could trigger further bullish scenario testing 1.0700 – 1.0800 region.
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2012-09-16 22:46:21
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-17-3
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