USD/JPY held minor support at 105.60/65 perfectly. Watch strong resistance again at 106.00/10 (and we topped exactly here so far today). Shorts need stops above 106.25.
An unexpected break higher targets 106.50/60.
Below 105.50 risks a retest of very minor support at recent lows at 105.20/10. Be ready to sell a break below 105.00 targeting 104.75/70, 104.35/30 & the July low at 104.20/16.
EUR/JPY holds support at 126.10/00. A break below 125.90 however risks a slide to a buying opportunity at 125.65/55, with stops below 125.35.
Holding support at 126.10/00 targets 126.45/55 & perhaps as far as 126.70/80.
Obviously we have strong resistance at 127.00/10. A break higher targets 127.30/40 & 127.80/90.
Trends
- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral