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.

 

Trends

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD stays below 1.3350 on poor UK PMIs

GBP/USD hits fresh session lows of 1.3335 following an unexpected drop in the UK's Preliminary Manufacturing and Service PMI reports. However, the downside appears capped amid growing Brexit optimism. 

GBP/USD News

EUR/USD keeps range around 1.1130 on downbeat PMIs

EUR/USD trims gains to trade near 1.1130 region after the sentiment around the euro was dented by the disappointing German and Eurozone Preliminary Manufacturing PMIs. Trade concerns also keep the gains limited. 

EUR/USD News

UK Elections and US-China trade: Removing Risk Factors

Following the euphoria over the decisive UK election result and the US-China "Phase 1" trade deal markets look primed to end the year on a positive footing. Two of the major risk factors threatening to detail market sentiment into year end have at least been lifted.

Read more

Gold consolidates in a range, flat-lined around $1475 level

Gold extended its sideways consolidative price action through the early European session on Monday and remained confined in a narrow trading band near the $1475 region.

Gold News

USD/JPY clings to modest gains, just below mid-109.00s

The USD/JPY pair edged higher on the first day of a new trading week, albeit lacked any strong follow-through and remained well within the previous session's trading range.

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures