Daily Forecast for Crosses: November 15

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By swibowo | November 15, 2012 7:21 PM EST

Fx Instructor

EURJPY Forecast

The EURJPY had a bullish momentum yesterday and hit 103.20 earlier today. The bias remains bullish in nearest term testing 103.50 even retesting 104.40/50 key resistance area as a part of the bullish phase after formed double bottom formation around 100.40. My medium outlook is entering a neutral zone with potential wide range between 104.40/50 – 99.50. Selling around 104.40/50 seems to be a good plan for now. Immediate support is seen around 102.00. A clear break below that area could lead price to neutral zone in nearest term.


GBPJPY Forecast

The GBPJPY had a bullish momentum yesterday and hit 128.30 earlier today. The bias remains bullish in nearest term testing 128.50/80 area. Immediate support is seen around 127.50. A clear break below that area could lead price to neutral zone in nearest term testing 127.00 or lower but as long as stays above the trend line support (white) I still prefer a bullish scenario.

AUDUSD Forecast

The AUDUSD had a bearish momentum yesterday and hit 1.0346 earlier today. The bias is bearish in nearest term testing 1.0300 or lower. However the false breakdown bullish phase should remain intact and my medium term outlook remains sideways. Immediate resistance is seen around 1.0400. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase remains strong testing 1.0450 or higher.

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