Daily Forecast for Crosses: April 14

The EURJPY attempted to push lower yesterday, bottomed at 125.69 but whipsawed to the upside and closed higher at 126.85 and keep moving higher around 127.34 at the time I wrote this comment. Since the gap has been filled, I think we are back to bullish outlook from now, testing 127.88. We need a clear break above that area to continue the bullish scenario targeting 128.70 region. Immediate support at 126.77 (current low). Break below that area should lead us into no trading zone as direction would become unclear in nearest term but overall the main scenario remains to the upside.

GBPJPY Forecast
The GBPJPY was indecisive yesterday, formed a Doji on daily chart. However price still able to move above the trendline so I still prefer a bullish scenario re-testing 144.70 area today. Break above 144.70 area should trigger further bullish momentum targeting 145.70 even 147.50 this week. Immediate support at 143.20 (current low). Break below that area should lead us into no trading zone as direction would become unclear.

AUDUSD Forecast
As you can see on my daily chart below, the AUDUSD had a bullish momentum after the bearish pressure failed to break below the upper line of the broadening formation, which proved to be a good support at this phase, keep the bullish scenario intact. The bias is bullish in nearest term targeting 0.9404 area. Immediate support at 0.9250. Only a movement back inside the formation could be seen as a serious threat to the bullish scenario.

Writer by : Setyo Wibowo [Blog.fxInstructor.com]