USDJPY – EURJPY Forecasts

Intermediate

USDJPY holding below 108.70/80 is a sell signal.
EURJPY up for a day or 2 then down for a day or 2 in a sideways trend.

Today’s Analysis 11 Dec, 2019

USDJPY try shorts at 108.70/80 with stops above 109.00. A break higher targets 109.30/35 & 109.55/60. Try shorts at 109.65/80 with stops above 109.99.

Shorts at 108.70/80 target minor support at 108.45/35. A break below 108.30 is the next sell signal targeting 108.05/00 to start profit taking from here down to strong support at 107.80/70. Try longs with stops below 107.55.

EURJPY bounce back to the target of minor resistance at 120.50/60 & perhaps as far as strong resistance at 120.90/121.00. On further gains look for 121.35 & strong resistance at 121.30/40.

Minor support at 120.25/15 but below here targets 119.80 & 119.70/65 before a buying opportunity at 119.30/20, with stops below 119.05.

Trends

Weekly outlook is neutral Daily outlook is neutral
Short Term outlook is positive

Editor

Jason Sen began his trading career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successful...continued

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