USD/JPY: Be ready to buy a break above 106.30

USD/JPY – EUR/JPY

USDJPY missed the selling opportunity at 105.60/70 by just 11 pips.

EURJPY topped at first resistance at 123.75/85 & now holding below the 100 day moving average at 123.50/40 for a sell signal.

Daily Analysis

USDJPY try shorts at 105.50/60 with stops above 105.80. A break higher retests 106.10/20. Be ready to buy a break above 106.30 targeting 106.60/70.

We hit minor support at 105.30/20 but below here targets 104.95/90. A break below 104.80 targets 104.50/40.

EURJPY holding the 100 day moving average at 123.50/40 is a sell signal targeting the October low at 123.00 then September low at 122.56/36. Expect strong support at 122.20/00. Stop below 121.80 & reverse in to a short.

Shorts at 123.40/50 need stops above 123.60. A break higher targets 124.00/10.

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