USD/JPY, EUR/JPY, CAD/JPY
USDJPY longs at first support at 113.90/70 work yesterday again!!
EURJPY we wrote: may have seen a high for the rally as we hit severely overbought conditions so we could trade sideways for a while.
PERFECT CALL! Prices collapsed breaking first support at 132.75/65 but MADE A LOW FOR THE DAY EXACTLY AT OUR BUYING OPPORTUNITY AT 132.30/20!!
CADJPY severely overbought conditions kick in as predicted yesterday. The pair over ran first support at 9230/20 hitting 9190. This leaves a bearish engulfing candle for a sell signal.
USDJPY longs again at 113.90/70 today target 114.45/55, perhaps as far as 114.70. Gains are likely to be limited but of we continue higher look for 114.95 & 115.20.
We are more likely to break support at 113.90/70 if retested today, targeting 113.30/20, perhaps as far as 113.00/112.90.
EURJPY longs at our buying opportunity at 132.30/20 worked perfectly as we bounce to 132.75. Gains are likely to be limited but if we continue higher take profit on any remaining longs at 133.00. Sell at 133.30/50 with stops above the 2021 high at 134.10/12.
Longs at our buying opportunity at 132.30/20 stop below 132.05. A BREAK LOWER IS AN IMPORTANT SELL SIGNAL initially targeting 131.60 then 131.00.
CADJPY gains are likely to be limited after the sell signal. First resistance at 9240/60. Sell at 9280/9300 with stops above 9320.
Eventually, we are expected to break 9200 for a sell signal targeting 9175 & a buying opportunity at 9120/00 with stops below 9090.
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.