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Daily Forecast for Crosses: September 27
EURJPY Forecast
The EURJPY was indecisive yesterday. Price attempted to push lower but found a good support at the lower line of the bullish channel as you can see on my daily chart below. The bias is neutral in nearest term. I still prefer a bullish scenario and the lower line of the bullish channel and 99.50 area seems to be a good place to buy with a tight stop loss as a clear break and daily close below 99.50 will interrupt the bullish outlook. Immediate resistance remains around 101.00. A clear break and daily close above that area would keep the bullish outlook remains strong.
GBPJPY Forecast
The GBPJPY was indecisive yesterday. The bias is neutral in nearest term. Overall I still prefer a bullish scenario at this phase as a part of the bullish scenario after break above the bearish channel. Immediate support is seen around 125.50. A clear break below that area could trigger further bearish pressure testing 125.00 region which could open the door for further bearish pressure testing the trend line support and 123.75 area. Immediate resistance is seen around 126.20 followed by 126.70.
AUDUSD Forecast
The AUDUSD failed to continue its bearish momentum yesterday and hit 1.0424 earlier today. The bias is neutral in nearest term but overall I still prefer to sell on rallies testing 1.0300 – 1.0250. Immediate resistance is seen around 1.0460 followed by 1.0520.
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2012-09-27 04:29:53
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-27-3
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