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USD/JPY And EUR/JPY Daily Forecast - 12 July 2018

By Jason SenForexJul 12, 2018 03:58AM ET
www.investing.com/analysis/usdjpy--eurjpy-daily-forecast--12-july-2018-200330509
USD/JPY And EUR/JPY Daily Forecast - 12 July 2018
By Jason Sen   |  Jul 12, 2018 03:58AM ET
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USD/JPY & EUR/JPY Performance Chart
USD/JPY & EUR/JPY Performance Chart

USD/JPY outlook positive as long as we hold good support at 111.60/55. We do have minor trend line resistance at 112.25/30 but above here targets 112.35/40 and 112.55/60.

Below 111.50 tests support at 111.25/15.

EUR/JPY topped exactly at key resistance at 130.90/131.00 so this remains the main challenge for bulls today. We bottomed exactly at minor support at 129.90/86 yesterday but best support for today at 129.40/30. Try longs with stops below 129.00 and look for profit taking at 129.90/130.00.

Key resistance at 130.90/131.00. Shorts need stops above 131.40. A break higher sees 131.00/130.90 act as strong support targeting 131.85/95.

USD/JPY And EUR/JPY Daily Forecast - 12 July 2018
 

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USD/JPY And EUR/JPY Daily Forecast - 12 July 2018

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