USD/JPY shorts at the selling opportunity at 104.65/75

Jason Sen DayTradeIdeas.co.uk

USDJPY – EURJPY

USDJPY shorts at the selling opportunity at 104.65/75 offered a 25-30 pip profit as wedrift slowly lower to the first target of 104.40/30.

EURJPY shorts at at 123.70/80 stopped above 123.90 as we hit 124.47

Daily Analysis

USDJPY shorts at key resistance at 104.65/75 target 104.40/30 (hit over night),perhaps as far as 104.15/05 for profit taking on any remaining shorts. Below 104.00risks a slide to 103.75/65.

Key resistance again at 104.65/75. Shorts need stops above 104.90. A break higher isa buy signal targeting 105.30/40 & strong resistance at 105.60/70 for profit taking.

EURJPY minor resistance at 124.30/40. Shorts need stops above 124.55. A breakhigher targets 124.65/70 then resistance at October/November highs at125.00/125.13.

Shorts at minor resistance at 124.30/40 target 124.05/00, perhaps as far as123.60/50 for profit taking on any remaining shorts.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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