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USD/JPY: Hold Shorts; EUR/JPY: Longs Need Stops Below 133.70

Published 01/15/2018, 05:16 AM
Updated 07/09/2023, 06:31 AM

USD/JPY And EUR/JPY Weekly Chart

USD/JPY shorts at 111.60/70 worked perfectly as we collapsed to our target of 111.05/00 and the November low at 110.83. There is no reason for this to hold and we are likely to see 110.50/40 and 110.00 this week. Hold shorts.

A bounce is a selling opportunity again today at 111.60/70. Try to add to shorts at 111.90/95, with stops above 112.20. EUR/JPY first support at 135.05/00 – stops below 134.70. Further losses target 134.40/35, perhaps as far as strong support at 134.05/00. Longs need stops below 133.70.

A break above 135.65 targets 135.90/95, 136.20/30 and the 136.58/62 high.

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