Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

USD/JPY, EUR/JPY July 14 Forecast

Published 07/14/2020, 04:55 AM
Updated 07/09/2023, 06:31 AM

USD/JPY topped exactly at the selling opportunity at 107.20/30 yesterday but this is a little higher today at 107.50/60. Stop above 107.75.

EUR/JPY shot higher to the 120.80/90 target but only paused here. We beat 121.00 targeting 121.15/20 and 121.35/45 then continued higher to retest last week’s high.

Levels

Today’s Analysis

USD/JPY selling opportunity at 107.50/60, with stops above 107.75. Above here targets 107.90/95 and 108.15 with a selling opportunity at 108.35/45; stops above 108.65.

Shorts at 107.50/60 targets minor support at 107.20/10. Below 107.00 is more negative for today, re-targeting 106.60/50. I do not see this as much of a support level. A break lower tests minor support at the May low at 106.00/105.95.

EUR/JPY holding resistance at the July high and longer-term Fibonacci resistance at 121.95/122.05 targets 121.60/50 with a buying opportunity at 121.20/10, with stops below 120.80.

Resistance at 121.95/122.05. Shorts need stops above 122.15. A break higher is a buy signal with 122.05/121.95 then acting as support targeting resistance 122.50/60.

USD/JPY Chart

Trends

  • Weekly outlook is neutral
  • Daily outlook is neutral
  • Short Term outlook is neutral

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.