EUR/JPY retests the March high at 130.55/65

Jason Sen DayTradeIdeas.co.uk

USD/JPY – EUR/JPY – CAD/JPY

USDJPY stuck in a narrow sideways range. from 109.60/55 to resistance at 109.90/110.00.

EURJPY we have a potential double top at 130.51/66.

CADJPY we wrote: breaks good support at 8750/40 which could trigger a test of the best support for today at 8700/8690.

Daily Analysis

USDJPY holding first resistance at 110.00/109.90 risks a slide to support at 109.40/30. Stop below 109.20. A break lower to tests strong support at 109.00/108.95 which could see a low for the week.

Above 110.00 meets minor resistance at 110.25/35. Bulls need a break above 110.50 to retest the high at 110.85/95. A break above 111.00 targets 111.40/50 & 111.65/75.

EURJPY retests the March high at 130.55/65 & held again yesterday. A break above 130.75 is obviously a positive signal but we run in to important 15 month trend line resistance at 131.15/25.

First support at 130/129.80 then strong support at 128.45/35 could see a low for the day if tested.

CADJPY holds the best support for the day at 8700/8690. Longs need stops below 8670. A break lower can target support at 8625/15. Watch for a low for the day if tested. First resistance at 8720/30, stronger resistance at 8760/70. Above 8780 allows a retest of 8820/30 highs.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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