USD/JPY tests strong resistance at 105.00/105.10. Shorts need stops above 105.20. A break higher is a buy signal targeting 105.50/60 and strong resistance at 105.90/106.00
Shorts at 105.00/105.10 target 104.75/65. If we continue lower look for 104.45/40 before a retest of support at the low at 104.10/00. Watch for a double bottom buy signal. Longs need stops below 104.85.
EUR/JPY buying opportunity at 122.30/20, with stops below 121.90. A break lower is an important sell signal, initially targeting 121.50/40 then strong support at 12.90/70 for profit-taking.
A bounce targets 122.60/70 and 123.10/15, with strong resistance at 123.40/50. Shorts need stops above 123.70. If we continue higher try shorts at 124.20/40 with stops above 124.60.
Trends
- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral
