USD/JPY – EUR/JPY
USDJPY beat resistance at 108.70/75 to hit the next target of 109.20/30 & topped out.
EURJPY beat resistance at 117.45/65 to hold the next target of 118.15/25 & the pair then returned to first support at 117.65/45.
Daily Analysis
USDJPY now using 108.90/80 as support after we hit the next target of 109.20/30. A break higher targets 109.80/90 with resistance at 110.10/20.
First support at 108.90/80 but below 108.70 is more negative for today targeting strong support at 108.30/20 & again at 108.10/00. A break below 107.90 is a sell signal.
EURJPY holding first support at 117.55/45 sees a bounce towards 118.15/25 with strong resistance at 118.55/65. Try shorts with stops above 118.90.
First support at 117.55/45 but longs need stops below 117.30. A break lower is a sell signal targeting 116.95/85 & below 116.65 risks a retest of 116.40/30 lows. Important support at the March/September 116.10/115.90 lows. A break lower therefore is a sell signal this week.
Trends
Weekly outlook is neutral.
Daily outlook is neutral.
Short Term outlook is neutral.
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