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Daily Forecast for Crosses: January 22

Daily Forecast for Crosses: January 22
Friday, January 22nd, 2010 @ 3:21 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo

Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own.

Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

About Me My Articles

EURJPY Forecast
The EURJPY had a significant technical movement yesterday by break below the trendline support, bottomed at 127.04, closed at 127.36 and touched 126.51 level earlier today in Asian session before corrected higher around 127.33 at the time I wrote this comment. This fact should trigger further bearish scenario but we need a consistent move below 126.89 area to continue bearish towards 124.40/50 area. The bias is neutral in nearest term but I prefer a bearish scenario at this phase. Immediate resistance at 127.60 – 128.00 area.

GBPJPY Forecast
The GBPJPY finally made a significant technical movement yesterday. Price break below the triangle, indicating potential bearish outlook testing 139.29 area in longer term of view. The bias is bearish in nearest targeting 144.50 but we need a consistent move below 145.50 support area to continue the bearish scenario. Immediate resistance at 147.00. Break above that area should lead us into no trading zone but I prefer a bearish scenario at this phase.

AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday, bottomed at 0.8996 and closed at 0.8998 but can not stay consistently below 0.9015 so far. The pressure should remains to the downside but we need a consistent move below 0.9015 to continue the bearish scenario targeting 0.8910 area. Immediate resistance at 0.9090. Break above that area should lead us into no trading zone.

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