USDJPY held best support at 108.00/107.80 but only bounced to 108.23. Longs need stops below 107.70.

EURJPY remains in an erratic sideways trend throughout April.

CADJPY so difficult in this last week, with erratic, volatile conditions – up one day, down the next day in the sideways trend.

We topped exactly at first resistance at 8660/80.

Daily Analysis

USDJPY retesting best support at 108.00/107.80 again today. Longs need stops below 107.70. A break lower however signals the next leg lower in the short term bear trend targeting 107.50/45 then strong support at 107.20/15.

Longs at 108.00/107.80 target minor resistance at 108.35/40 then strong resistance at 108.95/05.

EURJPY retests first support at 129.80/70. A break below 129.60 SHOULD signal further losses to 129.25/15. Below 129.05 expect very strong support at 127.80/70.

Gains are likely to be limited in the bull trap with first resistance at 130.10/20. Next target & resistance at 130.60/70.

CADJPY first resistance at 8660/80. Strong resistance at 8705/15. Shorts need stops above 8725.

We bottomed exactly at minor support at 8615/05 yesterday but below here today can target 8580/70 before a retest of this week’s low at 8540. The best support for today at 8510/8490. Longs need stops below 8475.




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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