USD/JPY: Selling opportunity at 107.50

Jason Sen DayTradeIdeas.co.uk

USD/JPY – EUR/JPY

USDJPY topped exactly at the selling opportunity at 107.20/30 yesterday but this is a little higher today at 107.50/60. Stop above 107.75.

EURJPY shot higher to the 120.80/90 target but only paused here. We beat 121.00 targeting 121.15/20 & 121.35/45 then continued higher to retest last week's high.

	Scalping levels.	Target.
AUDUSD	buying opportunity at 6910/00. Stop below 6885	6930, 6970
NZDUSD	buying opportunity at 6500/6490, with stops below 6480
NZDUSD	selling opportunity at 6660/70.
EURUSD	Unable to sustain a move in 1 direction for more than a day
EURUSD	Best support at 1.1275/65. Longs need stops below 1.1245	1.1310,1.1335
EURUSD	A break lower is a sell signal
USDJPY	selling opportunity at 107.50/60, with stops above 107.75	107.00, 106.70.
Gold	buying opportunity again at 1796/94, stops below 1791
Gold	buying opportunity at 1784/82. Try longs with stops below 1778.

Daily Analysis

USDJPY selling opportunity at 107.50/60, with stops above 107.75. Above here targets 107.90/95 & 108.15 with a selling opportunity at 108.35/45; stops above 108.65.

Shorts at at 107.50/60 targets minor support at 107.20/10. Below 107.00 is more negative for today, re-targeting 106.60/50. I do not see this as much of a support level. A break lower tests minor support at the May low at 106.00/105.95.

EURJPY holding resistance at the July high & longer term Fibonacci resistance at 121.95/122.05 targets 121.60/50 with a buying opportunity at 121.20/10, with stops below 120.80.

Resistance at 121.95/122.05. Shorts need stops above 122.15. A break higher is a buy signal with 122.05/121.95 then acting as support targeting resistance 122.50/60.

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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