USD/JPY shorts at 107.25/35 are working perfectly
|USD/JPY – EUR/JPY
USDJPY shorts at 107.25/35 are working perfectly as we hit minor support at 106.60/50 for a potential 75 pip profit.
EURJPY longs at 122.65/55 looking good after our buy signal targeting 123.20/30, 123.50/60 & 123.90/124.00. We continued higher to 124.28.
Updated at 03:20 GMT
Daily Analysis
USDJPY shorts at 107.25/35 target 107.10/00 with minor support at 106.60/50. This has been holding but I think is unlikely to hold a 3rd test. A break lower targets better support at the June low at 106.15/05. Try longs with stops below 105.90.
A selling opportunity is at 107.25/35 once again with stops above 107.50. A break higher targets 107.75/85.
EURJPY dipped to just above 123.60 & bounced. Obvious resistance at the June high of 124.42 coupled with the 200 week moving average at 124.70.
Holding below 123.90 signals some weakness with a break below 123.60 targeting a buying opportunity at 123.20/10, with stops below 122.95.
| Trends | |
| Weekly Outlook | Neutral |
| Daily Outlook | Neutral |
| Short Term Outlook | Neutral |
Chart
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.