USD/JPY Try Shorts On Any Bounce Towards 112.10/20
Jason Sen | Mar 06, 2019 02:28AM ET
USD/JPY try shorts on any bounce towards 112.10/20, with stops above 112.50. A break higher targets 112.85.
Risks have increased to the downside now so a break below 111.65 is obviously negative targeting 111.40/35 then 111.25/20. EUR/JPY
could not hold above 126.70/80 for long & we hit the next downside target of 126.30/25. A break below 126.20 signals further losses to 125.90/85 before a buying opportunity at 125.50/40. Stop below 125.20.
Gains are likely to be limited with first resistance at 126.70/80. Try shorts with stops above 126.95. Strong resistance at 127.10/20. Try shorts with stops above 127.40.
/h3
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