USD/JPY targets 107.30 below 107.50

Jason Sen DayTradeIdeas.co.uk

USDJPY topped exactly at 107.90/108.10 & bottomed exactly at our buying opportunity at 107.65/55 as we remain in a sideways trend as predicted.

EURJPY we wrote: hits 118.91. Further gains target 119.30/40...

Target hit & we topped exactly here.

Daily Analysis

USDJPY below 107.50 targets 107.30/20. Buy with stops below 107.10. A break lower targets 106.80/70, perhaps as far as 106.45/40.

Minor resistance at 107.90/108.10 but sell at 108.30/40, stop above 108.60. A break higher is a buy signal targeting 109.00/10 & 109.25/30 for profit taking.

EURJPY hits the next target of 119.30/40 as we look for a selling opportunity at 119.85/95 with stops above 120.25.

Minor support at 118.90/80 then a buying opportunity at 118.20/10 with stops below 117.90.

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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