US/DJPY remains in a narrowing sideways trend.
EUR/JPY inside day topped at first resistance at 117.45/55 and held just 7 pips above our buying opportunity at 117.00/90
Today’s Analysis
USD/JPY first support at 107.65/60. buy at 107.35/25; stops below 107.05. A break lower targets 106.80/70, perhaps as far as 106.45/40.
Longs at 107.35/25 target 107.55/65, perhaps as far as 107.90/95. Try shorts at 108.10/20. Stop above 108.45. A break higher is a buy signal targeting 109.00/10 and 109.25/30 for profit-taking.
EUR/JPY holding first resistance at 117.45/55 targets minor support at 117.00/90. A break lower targets a buying opportunity at 116.60/50 with stops below 116.30.
First resistance at 117.45/55 but above 117.70 targets 117.90, perhaps as far as 118.10/15. Sell at 118.65/75 with stops above 118.95.
Trends
- Weekly outlook is neutral
- Daily outlook is neutral
- Short Term outlook is neutral