USD/JPY: Longs need stops below 108.95
|USD/JPY, EUR/JPY, CAD/JPY
USDJPY has bottomed exactly at best support at 109.15/05 & topped exactly at first resistance at 109.60/70 so far this week.
EURJPY hit strong support at 133.10/00 for another buying opportunity this week & bottomed exactly here.
CADJPY bottomed exactly at first support at 9045/35 all this week for a small scalping opportunity. Longs need stops below 9025. A break lower is a sell signal.
Daily analysis
USDJPY best support a little higher at 109.20/10 today. Longs need stops below 108.95. A break lower targets 108.60/50 & 108.35/30.
Longs at 109.20/10 target 109.60/70. A break higher targets 109.90/95 with trend line resistance at 110.30/40.
EURJPY longs at strong support at 133.10/00 work on the bounce as we look for the first target of 133.50/60 today, perhaps as far as 133.80/85. Further gains retest 134.00/10. A break higher in the bull trend targets 134.35/45 then 134.85/95.
Strong support at 133.10/00. Longs need stops below 132.85. A break lower is a sell signal targeting 132.50/40 before 1.5 year trend line support at 132.25/15. Longs need stops below 131.95.
CADJPY longs at first support at 9045/35 worked on the bounce to first resistance at 9070/80 & we topped exactly here. Further gains retest the 7110/20 high. A break higher targets 9140/45.
First support at 9045/35 again today. Longs need stops below 9025. A break lower is a sell signal targeting 2 week lows at 8988/83 & 3 week lows at 8960/55.
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