USD/JPY Outlook Neutral

{{3|USDJPY} shorts at 104.60/70 re-target 104.40/30 before strong 2 month trend line support at 103.90/80. Longs here need stops below 103.65.

First resistance at 104.60/70 then strong resistance again at 105.05/15. Shorts need stops above 105.25. A selling opportunity at 105.40/50 with stops above 105.70.

EURJPY first resistance at 122.40/50. A break above 122.70 targets 122.90/99. Try shorts at 123.40/60 with stops above 123.80.

First support at last week’s low at 121.70/60. A break lower targets 121.20/00 for profit taking on shorts.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Negative
  • Short Term Outlook Negative

JPY Chart

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