USD/JPY breaks support at 107.00/90 for a sell signal. The pair were kind enough to bounce from the first target of 106.50/40 back to 106390/107.00 for the perfect selling opportunity & we should be short now.
EUR/JPY shorts at 116.40/50 offered 60 pips profit on the slide to support at 115.84/62. Longs here need stops below 115.40. A break lower is a sell signal.
Today's Analysis
USD/JPY holding first resistance at 106.90/107.00 is a sell signal of course targeting 106.50/40& 106.10/00. A break below 105.90 is our next sell signal.
Try shorts at 106.90/107.00 with stops above 107.20.
EUR/JPY tests important support at 115.84/62 in oversold conditions. Longs need stops below 115.40. A break lower is a sell signal initially targeting 115.25/20 & support at the 2017 low at 114.90/80.
Longs at 115.84/62 need the pair to hold above 116.10 but we meet strong resistance at116.40/50. Exit longs & try shorts with stops above 116.70.
Trends
- Weekly outlook is neutral
- Daily outlook is neutral
- Short Term outlook is negative