USD/JPY collapsed as predicted with shorts offering up to 200 pips profit as I write. Outlook remains negative for this week but we are severely oversold in the short term now. We have hit minor support at 110.90/80 and although longs are way too risky, it could be a good idea to take at least some profit on shorts. Gains are likely to be limited with minor resistance at 111.15/20 then 111.40. If we continue higher look for 111.70/75.
EUR/JPY lower as predicted with shorts offered up to 165 pips profit as I write. A great trade! Good support at 130.30/20 for a little profit taking but longs are way too risky as outlook remains negative. Gains are likely to be limited with first resistance at 130.55/65 but above here try shorts at 130.85/95, with stops above 131.20.
A break below 130.00 signals further losses to minor support at 129.55, perhaps as far as better support at 129.25/15.