USD/JPY reversed 4 pips from our selling opportunity at 109.70/90.

EUR/JPY we wrote: outlook positive as long as we hold above first support at 120.30/20. We are crawling slowly towards targets of 120.50/60 & 120.90/121.00.

USD/JPY holding the important selling opportunity in the 109.70/90 area, with stops above 110.10. A break higher is a strong buy signal.
Holding 109.70/90 targets 109.50/45 & minor support at 109.35/30. Below 109.20 signals further losses to 109.15/10 & perhaps as far as strong support at 108.90/80.

EUR/JPY hits the target of 120.50/60 & on the way to 120.90/121.00 this morning. On further gains look for 121.35/45.
Try longs at 120.30/20 with stops at 120.05. A break lower however targets 119.80/70 with strong support at 119.30/20. Longs need stops below 119.00.



Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is positive.

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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