USD/JPY And EUR/JPY: Sep 3, 2020

USD/JPY holding above what is now first support at 106.00/90 targets 106.25 (hit overnight), perhaps as far as 106.50/60. If we continue higher look for a retest of last week’s high at 106.85/95.

First support at 106.00/90 but longs need stops below 105.80. A break lower targets 105.60/65, perhaps as far as minor support at recent lows at 105.20/10. Be ready to sell a break below 105.00 targeting 104.75/70, 104.35/30 & the July low at 104.20/16.

EUR/JPY making a break below 125.65/55 for a sell signal targeting 124.90/80, perhaps as far as 124.50/40. Expect strong support at 124.15/05, stop below 123.80 First resistance at 125.80/126.00. Try shorts with stops above 126.20. If we continue higher look for 126.45/55 & perhaps as far as 126.70/80. Obviously we have strong resistance at 127.00/10. A break higher targets 127.30/40 & 127.80/90.

Trends

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

JPY Chart

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