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USD/JPY, EUR/JPY Daily Forecast: August 27, 2020

Published 08/27/2020, 04:19 AM
Updated 07/09/2023, 06:31 AM
USD/JPY
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EUR/JPY
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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

JPY Chart

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