USD/JPY, EUR/JPY, CAD/JPY Daily Forecast
Jason Sen | Apr 27, 2021 05:16AM ET
USD/JPY holding above 108.00 should be positive.
EUR/JPY remains in an erratic sideways trend throughout April. Up one day, down the next day in the sideways trend, impossible to read day to day. We retest second resistance at 130.60/70.
CAD/JPY unexpectedly beat strong resistance at 8630/40 and again at 8690/8710.
h2 Today’s Analysis/h2USD/JPY holding above 108.00 should be positive targeting 108.35/40 (we just topped here overnight), then strong resistance at 108.90/109.05. Shorts need stops above 109.20.
First support at 180.00/107.90 but below 107.80 should be negative today retargeting 107.50/45. Further losses this time meet strong support at 107.20/15.
EUR/JPY held second resistance at 130.60/70 perfectly. Shorts need stops above last week’s high at 130.95. A break higher meets strong 16 month trend line resistance at 131.40/60.
Shorts need stops above 131.85.
Minor support at 130.20/10 for profit taking on any shorts. Strong support at 129.80/70. A break below 129.55 SHOULD signal further losses to 129.25/15. Below 129.05 expect very strong support at 128.80/70.
CAD/JPY unexpectedly going through strong resistance at 8690/8710 targeting 8755/60 and 8800/10.
First support at 8660/50. Longs need stops below 8630.
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