Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EUR/JPY, CAD/JPY, USD/JPY Forecast

By Jason SenForexNov 02, 2021 06:54AM ET
www.investing.com/analysis/eurjpy-cadjpy-usdjpy-forecast-200607081
EUR/JPY, CAD/JPY, USD/JPY Forecast
By Jason Sen   |  Nov 02, 2021 06:54AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

USD/JPY best at support at 113.40/30 again today.

EUR/JPY up one day, down the next day in the sideways trend for over a week. Becoming more erratic and therefore difficult to trade.

CAD/JPY was also more random and erratic last week, although shorts at first resistance at 9240/60 worked again yesterday with a 70 pip profit offered this morning.

Daily analysis

USD/JPY first support again at 113.40/30. Longs need stops below 113.20 so the risk is very small. A break lower is a sell signal targeting 113.00/112.90 and 112.60/50 for profit taking on shorts. Longs at 113.40/30 target 113.80/90. We should pause here but further gains meet minor resistance at last week's high of 114.25/30. Strong resistance at the October high of 114.50/70. Shorts need stops above 114.80. A break higher is a medium-term buy signal.

USD/JPY Chart
USD/JPY Chart

EUR/JPY first support at 131.60/40, stop below 131.35. A break lower is a sell signal initially targeting 130.90 and we could hold here initially, maybe even bounce to 131.40/50. Further losses meet an important buying opportunity at 130.40/20 with stops below 130.00. First resistance at 132.20/30. Above 132.40 can target 132.90, perhaps as far as strong resistance at October's high of 133.30/50.

CAD/JPY shorts at first resistance at 9240/60 worth a try again targeting 9200 and 9175 (hit as I write). A buying opportunity at 9120/00 with stops below 9090. Gains are likely to be limited with first resistance at 9240/60. However a break higher retests October's high at 9295/9305.

EUR/JPY, CAD/JPY, USD/JPY Forecast
 

Related Articles

EUR/JPY, CAD/JPY, USD/JPY Forecast

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Dany FX
Dany FX Nov 02, 2021 6:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
USD/JPY… what a great forecast! This guy is a genious!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email