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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The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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