EUR/JPY Bulls Buy Signal Targeting 126.10/20 And 126.60/70

Published 01/27/2019, 12:52 AM
Updated 07/09/2023, 06:31 AM

USDJPY _ EURJPY

USD/JPY topped exactly at our upper target of 109.95/99 again on Friday. Further gains target 110.10/15 and minor resistance at 110.35/40. Bulls then need a break above 110.55 to test strong resistance at 111.00/20 and the best chance of a high for the week.

Minor support at 109.30/25 but below 109.15 meets a buying opportunity at 108.80/70 with stops below 108.55. A break lower is a sell signal targeting 108.35/30 and 108.00/107.90.

EUR/JPY very difficult to read as we chop up and down with no direction. Minor support at 124.95/90 then a buying opportunity at 124.50/40, with stops below 124.20. A break lower targets 124.05/00 then 123.85/80.

Bulls need a break above 8-month trend line resistance at 125.45/55 for a buy signal targeting 126.10/20 and 126.60/70.

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