NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

EUR/JPY Unexpectedly Shot Higher. Watch For This USD/JPY Buy Signal

Published 05/19/2020, 05:06 AM
Updated 07/09/2023, 06:31 AM
USD/JPY
-
EUR/JPY
-

USD/JPY lacking any clear short term direction or trend

EUR/JPY 2 losses yesterday unfortunately as we beat resistance at 116.20/30 & 116.70/80.

Today’s Analysis

USD/JPY first resistance at 107.40/50. A break above 107.70 is a buy signal targeting 108.05/15 perhaps as far as a selling opportunity at 108.30/40. Stop above 108.60.

Try longs at 107.10/00 with stops below 106.85. A break lower is a sell signal targeting 106.70/65 then 106.40/30.

EUR/JPY unexpectedly shot higher to 117.34. Key resistance at 117.60/70 but a break above 117.80 targets 118.20/30, perhaps as far as 118.60/65.

Buy at 116.70/60. stop below 116.45. A break lower targets 116.10/00.

Trends

  • Weekly outlook is neutral
  • Daily outlook is negative
  • Short Term outlook is neutral

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.