USD/JPY, EUR/JPY And CAD/JPY Forecast
Jason Sen | Jul 16, 2021 02:46AM ET
USD/JPY breaks strong support at 110.10/00 using this level now as resistance. EUR/JPY shorts at 131.10/20 worked perfectly as we target 130.20/10 and strong support at 129.60/40 for an easy 150 pip profit.
CAD/JPY we wrote: breaks very minor support at 8810/00 targeting 8775/65 before a retest of 8715/05.
Targets hit and we bottomed exactly here.
h2 Today’s Analysis/h2USD/JPY break below 110.10/00 can retest good support at 109.55/45 today. Longs need stops below 109.20.
Strong resistance at 110.10/20. Stop above 110.35.
EUR/JPY shorts at 131.10/20 target 130.60/50, 130.20/10 and strong support at 129.50/40 exactly as predicted – stop below 129.20. A break lower is a sell signal targeting 128.40/30.
Strong resistance at 130.40/60 likely to see a high for the day if tested. A sell opportunity at 131.10/20, stop above 131.35. A break higher is a buy signal targeting 131.65 and 132.10/20.
CAD/JPY breaks very minor support at 8810/00 targeting 8775/65 before a retest of 8715/05. The pair bottomed exactly here. A break lower this week tests 200 week moving average at 8670/50.
First resistance at 8800/10. Shorts need stops above 8830. Strong resistance at 8860/70. Stop above 8885.
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