USD/JPY – EUR/JPY
USDJPY shorts at 107.25/35 are working perfectly as we hit minor support at 106.60/50 for a potential 75 pip profit.
EURJPY longs at 122.65/55 looking good after our buy signal targeting 123.20/30, 123.50/60 & 123.90/124.00. We continued higher to 124.28.
Updated at 03:20 GMT
Daily Analysis
USDJPY shorts at 107.25/35 target 107.10/00 with minor support at 106.60/50. This has been holding but I think is unlikely to hold a 3rd test. A break lower targets better support at the June low at 106.15/05. Try longs with stops below 105.90.
A selling opportunity is at 107.25/35 once again with stops above 107.50. A break higher targets 107.75/85.
EURJPY dipped to just above 123.60 & bounced. Obvious resistance at the June high of 124.42 coupled with the 200 week moving average at 124.70.
Holding below 123.90 signals some weakness with a break below 123.60 targeting a buying opportunity at 123.20/10, with stops below 122.95.
| Trends | |
| Weekly Outlook | Neutral |
| Daily Outlook | Neutral |
| Short Term Outlook | Neutral |
Chart
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now