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USD/JPY And EUR/JPY Daily Forecast - 17 July 2018

Published 07/17/2018, 03:28 AM
Updated 07/09/2023, 06:31 AM

USD/JPY & EUR/JPY Performance Chart

USD/JPY holding above 112.30/20 allows a recovery to towards 112.60 (missed by 5 pips yesterday) and perhaps as far as 112.85/90. On further gains look for a selling opportunity from 113.20 up to the high this year at 113.38. Try shorts with stops above 113.75.

Below 112.30/20 targets 112.00 and support at 111.75/65 which is expected to hold. Longs need stops below 111.45.

EUR/JPY beat key resistance at 130.90/131.00 for a buy signal targeting 131.85/95 and we are now 15 pips away as I write.

Watch for a high for the day in SEVERELY overbought conditions. A sustained break above 132.05 however targets 132.55/60.

Minor support at 131.229/25, better support at 131.02/97 could hold the downside. Longs need stops below 130.80. Next target and support at 130.63/58.

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Good one
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