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.

Daily analysis

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.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.


GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.


Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!