USD/JPY Likely To Break Below 110.90/80; EUR/JPY: Strong Resistance At 130.60
Jason Sen | May 23, 2018 07:35AM ET
USD/JPY is now likely to break below 110.90/80 to target support at 110.40/30. A low for the day is possible but be ready to sell a break below 110.10 to target 109.80/70.
Yesterday we did bounce from 110.90/80 and we topped exactly at 111.20/30 as predicted. Obviously bulls must beat 111.40 to target 111.46/50 and 111.85/89.
EUR/JPY strong resistance at 130.60 but above here targets 130.85/95, perhaps as far as 131.35/40. A break higher targets 131.80/85.
Failure to beat 130.60 targets 130.35, 130.99/95 and 129.55/50 before the May low at 129.22 and March low at 128.94.
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