USD/JPY And EUR/JPY Daily Forecast - 01 November 2018

Published 11/01/2018, 01:29 AM
Updated 07/09/2023, 06:31 AM

USDJPY & EURJPY

USDJPY reversed back below 113.00/10 to bottom 4 pips above our buying opportunity at 112.75/70 but this comes in lower today at 112.65/60. Stop below 112.45 but then watch 7 month trend line support at 112.35/30.

200 week moving average resistance at 113.10/20 the the main challenge for bulls today. Try shorts with stops above 113.40 signals further gains to 113.55/60 & 113.90/95.

EURJPY unfortunately beat strong resistance at 128.20 before reversing to the 1st downside target of 127.70/60. On further losses look for 127.15/10, perhaps a retest of minor support at 126.70/60.

First resistance at 128.20/30...I still think we try shorts again today with stops above 128.60 this time. A break higher targets minor resistance at 129.00/10.

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