USD/JPY beat important resistance at 109.60./70 for a buy signal
|USD/JPY - EUR/JPY
USD/JPY beat important resistance at 109.60./70 for a buy signal.
EUR/JPY we wrote: just touching the next target of 121.70/75 before resistance at January's high at 121.90/122.00. Above 122.10 can test 1.2245/50.
All targets hit as we reach 122.75.
Daily Analysis
USD/JPY bulls remain in control on the break above 109.60/70 as we reach 110.20. Further gains expected to target important 15 month trend line resistance at 110.45/50. Watch for a high for the day. Bulls need a sustained break above 110.60 for the next buy signal.
Try longs at 109.70/60, with stops below 109.40.
EUR/JPY through 1.2245/50 to reach 122.75. Further gains target quite strong resistance at 123.00/10. A break higher targets 123.40/50.
First support at 122.60/50 but below 122.30 risks a slide to 122.10/00.
Trends
Weekly outlook is neutral
Daily outlook is neutral
Short Term outlook is negative
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.