USD/JPY holding below first resistance at 110.65/85 is negative for today. Stop above 111.00.
EUR/JPY topped exactly at strong resistance at 131.00/20 targeting 130.60/50 and 130.20/00. As I write, we bottomed exactly here for another 80 pip profit.
CAD/JPY over ran first resistance at 8885/90 by 20 pips but then headed lower as predicted to the targets of 8850/40 and strong support at June lows at 8820/00.
Today’s Analysis
USD/JPY holding below first resistance at 110.65/85 is a sell signal for today targeting 110.65/55 then a buying opportunity at 110.10/00. Longs need stops below 109.85.
A break above 111.00 is a buy signal targeting 111.35 before a retest of the high at 111.60/65.
EUR/JPY topped exactly at strong resistance at 131.00/20 targeting 130.60/50 and 130.20/00. We bottomed exactly here this morning. A break lower today is a sell signal targeting 129.80 and support at 129.50/40.
Gains are likely to be limited with strong resistance again at 131.00/20 and 131.50/70. Bulls need a break above 131.90 for a buy signal.
CAD/JPY tests strong support at June lows at 8820/00. Longs need stops below 8780. A break lower is an important sell signal targeting 8760 & 8720/10.
Gains are likely to be limited with first resistance at 8885/90 and very strong resistance at 8960/80. Bulls need a break above 9000 for a medium term buy signal.
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