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Daily Forecast for Crosses: September 24
EURJPY Forecast
The EURJPY was corrected lower last week and hit 100.85 earlier today. The bias is bearish in nearest term testing 100.50/00 but as long as stays inside the bullish channel I still prefer to buy on dips at least targeting 104.00 region. On the downside, key support area is seen around the lower line of the bullish channel and 99.50. A clear break below that area will be a threat to the bullish outlook.
GBPJPY Forecast
The GBPJPY was volatile but indecisive last week. The bias is neutral in nearest term but overall I still prefer to buy on dips as a part of the bullish scenario after break above the bearish channel. Immediate support is seen around 126.20. A clear break below that area could trigger further bearish pressure testing 125.50 support area. Immediate resistance is seen around 127.00/20. A clear break above that area could trigger further bullish pressure testing 128.00 before challenging 129.00/50 region.
AUDUSD Forecast
The AUDUSD had a bearish momentum last week after failed to make a clear break above 1.0610 area. The bias is bearish in nearest term testing 1.0300. Immediate resistance is seen around 1.0450. A clear break above that area could lead price to neutral zone in nearest term testing 1.0500 but as long as stays below 1.0610, I still prefer a bearish scenario at this phase. On medium term perspective we have a potential wide range between 1.0610 – 1.0170.
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2012-09-24 21:49:19
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-24-3
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