CAD/JPY Makes a Low for the Day at Support Near 95.75
Jason Sen | Mar 30, 2023 03:12AM ET
CAD/JPY made a low for the day at support at 9575/55 and shot higher to my targets as far as 9740, reaching 9800. Resistance at 9810/30. Shorts need stops above 9850. A break higher is a buy signal targeting 9900 and 9930/40.
Shorts at 9810/30 can target 9760/55 and 9710/00.
AUD/JPY made a low for the day, just 5 pips above support at 8770/50 and headed higher as expected to targets of 8810 and 8860/70. A high for the day, only 13 pips above.
At least the first support at 8830/10 could hold the downside this morning. However, the best support is at 8780/60. Longs need stops below 8740.
USD/JPY beat strong resistance at 131.50/70 for a buy signal targeting 132.30/35 and 132.75/85.
A high for the day exactly at this target. The pair is overbought short-term and hitting resistance, so it could turn lower today. However, I think shorts are risky. I prefer to wait for a dip to 131.80/60 for a buying opportunity with stops below 131.30.
If you do try a short, stop above 133.20. A break higher targets 133.60/70 and 134.00/10.
NZD/JPY shorts at strong resistance at 8140/60 stopped on the break above 8180. We have reached 8225 and can target 8280/90 now. (A high for the day, only 3 pips below).
Support at 8180/60. Longs need stops below 8130.
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