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Daily Forecast for Crosses: September 26
EURJPY Forecast
The EURJPY continued its bearish correction yesterday and hit 99.97 earlier today. The bias remains bearish in nearest term testing 99.50 and the lower line of the bullish channel as a key support area. I still prefer a bullish scenario at this phase and 99.50 area seems to be a good place to buy with a tight stop loss as a clear break below that area and movement below the bullish channel will interrupt the bullish outlook. Immediate resistance is seen around 101.00. A failure to make a clear break below the bullish channel and movement back above 101.00 will keep the bullish outlook remains strong.
GBPJPY Forecast
The GBPJPY continued its bearish correction yesterday and hit 125.50 earlier today. The bias remains bearish in nearest term especially if price able to make a clear break below 125.50 testing 125.00 – 124.50 support area. Immediate resistance is seen around 126.10. A clear break above that area could lead price to neutral zone in nearest term testing 126.70, which need to be clearly broken to the upside to keep the bullish scenario (after the break above the bearish channel) remains strong.
AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday and hit 1.0344 earlier today. The bias is bearish in nearest term testing 1.0300 – 1.0250 area. Immediate resistance is seen around 1.0400. A clear break above that area could lead price to neutral zone in nearest term but overall I still prefer a bearish scenario at this phase.
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2012-09-26 00:30:18
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-26-2
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