USD/JPY And EUR/JPY: Sep 8, 2020

USD/JPY holding first support at 106.00/90 re-targets 106.25, perhaps as far as 106.50/60. If we continue higher look for a retest of resistance at last week’s high at 106.85/95. Try shorts with stops above 107.10.

First support at 106.10/00 but longs need stops below 105.85. 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 first resistance at 125.70/80. Shorts need stops above 125.95. Be ready to buy a break higher for 126.25/30 and 126.45/55, perhaps as far as 126.70/80. 2nd resistance at 127.00/10. A break higher targets 127.30/40 & 127.80/90.

First support at last week’s low of 125.30/25, although I really do not know why this held so well. Be ready to sell a break below 125.10 for 124.90/80, perhaps as far as 124.50/40. Expect strong support at 124.15/05, stop below 123.80.

Trends

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

Chart

JPY Chart

This entry was posted in Investing and tagged . Bookmark the permalink.
0 0 votes
文章评分
Subscribe
Notify of
guest
0 评论
Inline Feedbacks
View all comments