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USD/JPY And EUR/JPY Daily Forecast - 21 August 2018

Published 08/21/2018, 12:58 AM
Updated 07/09/2023, 06:31 AM
USD/JPY
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EUR/JPY
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USDJPY & EURJPY

USDJPY hit a buying opportunity at 110.00/109.90 with stops below 109.70. A bounce targets minor resistance at 110.30/35 & strong resistance at 110.50/60. We should struggle here & take profit on at least half the position but further gains meet a selling opportunity at 111.00/10.

A break below 109.70 targets 109.35, perhaps as far as 109.20/10.

EURJPY strong resistance at 126.70/80 still holding but shorts need stops above 127.10. A break higher targets a selling opportunity at 127.70/80.

Minor support at 126.00/125.90 but below here targets 125.70/65 & 125.30/25 before the low at 125.00/90. Further losses test the May low at 124.70/60. Below look for 124.10/00.

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