USD/JPY And EUR/JPY Daily Forecast - 19 July 2018
Jason Sen | Jul 19, 2018 05:26AM ET
USD/JPY we wrote: Failure to beat strong resistance at 113.20/40 as we expect targets 112.80/75 (hit), 112.55/50 and support at 112.20/16 which could hold the downside at this stage.
Any recovery meets a selling opportunity from 113.20 up to the high this year at 113.38. Try shorts with stops above 113.75.
EUR/JPY outlook negative and holding below first resistance at 131.40/50 targets support at 130.90/80. Greater chance of a break lower today FOR AN IMPORTANT SELL SIGNAL targeting 130.55 and good support at 130.30/20 with a low for the day likely.
A selling opportunity at 131.85/95 with stops above 132.15. A break higher however targets 132.55/60.
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