USD/JPY _ EUR/JPY
USDJPY remains in a sideways trend as we bottomed exactly at our buy level of 107.35/25 hitting our 107.90/108.10 target for profit taking. We topped exactly here.
EURJPY bounced just 8 pips above best support at 117.60/50 to retest the May high & resistance at 118.52/62.
Daily Analysis
USDJPY buy at 107.65/55 with stops below 107.45. Buy again at 107.30/20 with stops below 107.05. A break lower targets 106.80/70, perhaps as far as 106.45/40.
We topped exactly at 107.90/108.10 for profit taking. Sell at 108.30/40, stop above 108.60. A break higher is a buy signal targeting 109.00/10 & 109.25/30 for profit taking.
EURJPY hits 118.91. Further gains target 119.30/40 then a selling opportunity at 119.80/90 with stops above 120.20.
Minor support at 1180.50/40 but below here targets 118.25/20 then a buying opportunity at 117.85/75 with stops below 117.55.
Trends
Weekly outlook is neutral.
Daily outlook is neutral.
Short Term outlook is neutral.
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