USD/JPY Next Targets 111.80/85 And 112.10/20
Jason Sen | Mar 04, 2019 01:17AM ET
USD/JPY raced higher through resistance at 111.30/40 to the next targets of 111.80/85 and 112.10/20. We topped just 3 pips below. The outlook remains positive as we look for 112.50/55, 112.65 and perhaps as far as 112.85.
The downside is likely to be limited with first support at 111.65/60 then 111.40/30. Stop below 111.10.
EUR/JPY held 200-week moving average resistance at 127.30/35 as we top at 127.50. A break higher targets 128.00/10. If we continue higher look for a test of trend line resistance at 128.50/60.
Failure to beat strong resistance at 127.30/40 targets 127.05/00 then a buying opportunity at 126.80/70, with stops below 126.55.
/h3
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