USD/JPY And EUR/JPY Forecast: Oct 21, 2020

Published 10/21/2020, 01:52 AM
Updated 07/09/2023, 06:31 AM

USD/JPY minor resistance at 105.40/50. Strong 3.5 month trend line resistance at 105.75/85. Try shorts with stops above 106.00. Be ready to buy a break higher initially targeting 106.30/40, perhaps as far as 106.60/70.

Very minor support at at 105.10/00 but below 104.95 targets 104.50/40 then strong 2 month trend line support at 104.00/103.90.

EUR/JPY holding above the 1.5 month trend line which is at 124.50/40 today is a buy signal targeting the October high at 125.00/10. A break above 125.20 targets 125.65/75.

Longs at 124.50/40 need stops below 124.20.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Negative

JPY Chart

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