USD/JPY And EUR/JPY Forecast For Feb 11, 2020

USD/JPY ranges perfectly in between strong resistance at 110.10/20 and the best support for the day at 109.60/50.

EUR/JPY weaker as we break 120.05/00.

USD/JPY clearly the levels to watch again today are strong resistance at 110.10/20 and the best support for the day at 109.60/50. Be ready to sell a break below 109.50, targeting 109.30/25, perhaps as far as 109.10/05.

Shorts at 110.10/20 need stops above 110.30. A break higher is the next buy signal, initially targeting 110.60/65.

EUR/JPY through 120.05/00 to target minor support at the 119.85/75 January low. A break below 119.60 is a sell signal initially targeting 119.45, 119.25 and 119.10/00.

A bounce from minor support at the 119.85/75 January low targets 119.95/99 with strong resistance at 120.40/50. Try shorts with stops above 120.65.

Trends

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