USD/JPY broke first support at 109.50/40, but is holding above strong support at 108.90/80.
EUR/JPY breaks best support at 129.00/128.80 to target 128.00/127.90…we are 20 pips away as I write this morning.
CAD/JPY broke first support at 8765/55 to hit the next targets of 8705/00 and support at 8680/70
Today’s Analysis
USD/JPY bounces to the target of 109.40/50 with strong resistance at 109.75/85 for profit taking on any remaining longs. Shorts here need stops above 110.00. Shorts at strong resistance at 109.75/85 target 109.50/40, perhaps as far as 109.20 for profit taking. Strong support at 108.90/80. Longs need stops below 108.65. A break lower is a sell signal.
EUR/JPY is still on the way to the next target of 128.00/127.90. We could continue lower to 127.50/40. Minor resistance at 128.70/80. Strong resistance at 129.05/15. Shorts need stops above 129.30.
CAD/JPY longs at strong support at 8680/70 unfortunately stopped below 8655. However, we have now bounced to 8690. Further gains meets strong resistance at 8760/75. Shorts need stops above 8790. Strong support at 8680/60, Longs need stops below 8630. A break lower is a sell signal targeting 8560/50.
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