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USD/JPY And EUR/JPY Forecast For Dec 10, 2019

Published 12/10/2019, 01:51 AM
Updated 07/09/2023, 06:31 AM
USD/JPY
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EUR/JPY
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USD/JPY holding below 108.60/70 is a sell signal.

EUR/JPY trades sideways again as we give up recent gains, with no clear trend or obvious trading levels for today.

USD/JPY holding minor support at 108.45/35 but the outlook is negative so a break below 108.30 is the next sell signal targeting 108.05/00 and strong support at 107.80/70. Longs need stops below 107.55.

Try shorts at 108.60/80 with stops above 109.00. A break higher targets 109.30/35 and 109.55/60. Try shorts at 109.65/80 with stops above 109.99.

EUR/JPY a break below 120.25/15 targets 119.80 and 119.70/65 before a buying opportunity at 119.30/20, with stops below 119.05.

Bulls need prices to hold above 120.20 to target minor resistance at 120.50/60 and perhaps as far as strong resistance at 120.90/121.00. On further gains look for 121.35 and strong resistance at 121.30/40.

Trends

Weekly outlook is neutral

Daily outlook is neutral

Short Term outlook is positive

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