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USD/JPY And EUR/JPY Daily Forecast: May 26, 2020

Published 05/26/2020, 03:20 AM
USD/JPY
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EUR/JPY
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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

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