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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex Analysis

Editors’ Picks

EUR/USD: Bulls in control above 1.1100 starting out ECB week

Following the bounce from near 1.1100 in early Asia, EUR/USD has entered a phase of consolidated near 1.1140 region ahead of the European open. Bulls await a fresh impetus for the next push above the 1.1150 mark ahead of Eurozone/ US PMIs.

EUR/USD News

GBP/USD recedes from three-week top above 1.2400, UK Manufacturing PMI eyed

GBP/USD prints three-day winning streak amid broad US dollar weakness. Calls of further help to British employees add to the upside momentum. Downbeat Brexit headlines confront the UK’s coronavirus optimism. The UK/US PMIs will join qualitative catalysts.

GBP/USD News

Trump tenderness, China's Caixin, boost Asia

Asia is off to a rollicking start to the week with equities performing strongly and currency markets rotating out of haven US Dollars. The turbocharging of bullish sentiment this morning has multiple drivers starting with President Donald Trump. 

Read more

Gold: Teasing a rectangle breakout, $1750 in sight

Gold bulls gathering pace for the next push higher. The extension of last week’s rally in the yellow metal is mainly driven by the sell-off in the US dollar across the board, in the wake of US-China trade war relief and escalating US riots.

Gold News

WTI: Overbought RSI challenges the bulls above $35.50

WTI seesaws around 7-week-old resistance line, retreats from highest since March 11. A short-term ascending trend line on the bears’ radars during the pullback. 100-day SMA, 61.8% Fibonacci retracement together offers strong upside barrier.

Oil News

Forex Majors

Cryptocurrencies

Signatures