USD/JPY, EUR/JPY July 15 Forecast
Jason Sen | Jul 15, 2020 04:38AM ET
USD/JPY bottomed exactly at first support at 107.20/10 & reversed just 8 pips below our selling opportunity at 107.50/60.
EUR/JPY beat resistance at 121.95/122.05 with shorts stopped above 122.15 for a very small loss. We are targeting resistance 122.50/60.
USD/JPY selling opportunity at 107.50/60, with stops above 107.75. Above here targets 107.90/95 & 108.15 with a selling opportunity at 108.35/45; stops above 108.65.
Shorts at 107.50/60 target minor support at 107.20/10. Below 107.00 is more negative for today, re-targeting 106.60/50. I do not see this as much of a support level. A break lower tests minor support at the May low at 106.00/105.95.
EUR/JPY selling opportunity at 122.50/60 with stops above 122.90 A sustained break above here is a medium-term buy signal targeting 123.20/30.
Shorts at 122.50/60 target 121.00/90. Below here risks a slide to 121.70 with a buying opportunity at 121.40/30, with stops below 121.10.
- Weekly outlook is neutral
- Daily outlook is neutral
- Short Term outlook is neutral
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