USD/JPY And EUR/JPY Daily Forecast For March 08, 2019
Jason Sen | Mar 08, 2019 05:53AM ET
USD/JPY meets strong support at 111.40/35. Further losses test strong support at 111.05/00. A break below 110.90 is an important sell signal initially targeting 110.35/30.
Holding strong support at 111.40/35 targets minor resistance at 111.65/70. On further gains look for 111.85 before a selling opportunity at 112.10/20. Stop above 112.30.
EUR/JPY crashed to 124.65. Minor resistance at 125.05/10 then strong resistance at 125.30/35. If we unexpectedly continue higher look for a selling opportunity at 125.70/80, with stops above 126.00.
Outlook remains negative & we are likely to continue lower to test strong support at 124.20/10. Try longs with stops below 123.90.
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