USD/JPY Holds Above 108.00/10 For Buy Signal Targeting 108.46/50

Published 07/01/2019, 06:33 AM
Updated 07/09/2023, 06:31 AM

USD/JPY EUR/JPY Spot Daily Forecast - July 1, 2019

USDJPY EURJPY Spot Chart

USD/JPY holding above 108.00/10 for a buy signal targeting 108.46/50 (we topped exactly here) and 108.65/70. Above 108.75 targets strong resistance at 108.90/95. Shorts need stops above 109.05.

Strong support at 108.10/00. Longs need stops below 107.85.

EUR/JPY holding first resistance at 122.75/85 targets first support at 122.50/40. Further losses meet a buying opportunity at 122.20/10, with stops below 121.95.

Above 122.95 allows a retest of the 123.30/35 high. We should struggle here but look for a selling opportunity at 123.60/70, with stops above 123.90.

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