USD/JPY bottomed exactly at first support at 105.70/60 and topped exactly at our selling opportunity at 107.00/20. We have another 40 pips profit offered on the short as I write.
EUR/JPY beat first resistance at 125.50/60 to target strong resistance at 125.95/126.05 where we are short. We overran but just 15 pips.
Today’s Analysis
USD/JPY shorts at 107.00/20 target 106.60/50 (hit this morning), perhaps as far as a buying opportunity at 106.15/05, with stops below 105.80.
Sell at 107.00/20 with a potential high for the week; stops above 107.30. A break higher however targets 107.60/70 & strong resistance at 108.00/10.
EUR/JPY meets strong resistance at 125.95/126.05. Shorts need stops above 126.20. A break higher targets 126.70/80.
Shorts at 125.95/126.05 target 125.60/50, perhaps as far as strong support at 125.00/124.90. Try longs with stops below 124.80.
Trends
- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral
Chart