USD/JPY tested key support at 106.00/105.90 yesterday & held.
EUR/JPY chart remains messy & difficult to gauge in what appears to be a developing sideways trend. However, we bottomed exactly at good support at 125.40/20
Today’s Analysis
USD/JPY longs at key support at 106.00/90 target 106.30 & 106.60/70. Look for a selling opportunity at 107.05/15, with stops above 107.30.
Key support at 106.00/105.90. Longs need stops below 105.80. A break lower targets 105.60/50 before a retest of last week’s low at 105.20/10.
EUR/JPY bottomed exactly at good support at 125.40/20. Holding here targets 125.65/75 & 126.00/10. A break higher targets 126.45 before a retest of the August high at 126.70/74.
Good support at 125.40/20 but on a break below 125.00 look for 124.50/40 with best support at 124.00/123.80.
Trends
- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral