USD/JPY, EUR/JPY, CAD/JPY

USDJPY up one day, down the next day for over a week. Outlook positive if we continue to hold above the 100 month MA support at 109.00/108.90.

EURJPY holding resistance at 16-month trend line resistance at 131.40/60 this week to keep the outlook negative.

CADJPY retests 14-year trend line resistance at 8910/30. Shorts need stops above 8960.

Daily analysis

USDJPY holding above the 100 month MA support at 109.00/108.90 is more positive for this week targeting 109.60/70 & first resistance at 109.87/92. Above here look for 110.10/20.

First support at 109.00/108.90. Longs need stops below 108.70. A break lower to target 108.40/35.

EURJPY holding 16-month trend line resistance at 131.50/70 is more negative for this week as we bottomed exactly at the first target of 131.00/95 yesterday, with strong support at 130.50/30 this week.

Key 16 month trend line resistance at 131.40/60. A break above 132.00 however allows a retest of key resistance at 132.30/40. Shorts need stops above 132.65. A break higher meets 6-year trend line resistance at 133.05/25. Shorts need stops above 133.55.

CADJPY has topped exactly at important 14-year trend line & 200-month moving average resistance at 8910/30 again this morning. Shorts need stops above 8960. A break higher can target 14 years 38.2% Fibonacci resistance at 9010/30.

Holding important resistance at 8910/30 again today re-targets 8860/50 with first support at 8820/10. A break below 8800 can target 8770/60 with strong support at 8735/15 this week.

Chart

USDJPY

 

EURJPY

 

CADJPY

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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