USD/JPY Price Forecast: Below 104.00 Risks A Slide

By Jason SenForexNov 25, 2020 05:29AM ET

www.investing.com/analysis/usdjpy-price-forecast-below-10400-risks-a-slide-200545826

USD/JPY Price Forecast: Below 104.00 Risks A Slide

By Jason Sen | Nov 25, 2020 05:29AM ET

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USD/JPY shorts at key resistance at 104.65/75 target 104.40/30 (hit overnight), perhaps as far as 104.15/05 for profit taking on any remaining shorts. Below 104.00 risks a slide to 103.75/65.

Key resistance again at 104.65/75. Shorts need stops above 104.90. A break higher is a buy signal targeting 105.30/40 & strong resistance at 105.60/70 for profit-taking.

EUR/JPY minor resistance at 124.30/40. Shorts need stops above 124.55. A break higher targets 124.65/70 then resistance at October/November highs at 125.00/125.13.

Shorts at minor resistance at 124.30/40 target 124.05/00, perhaps as far as 123.60/50 for profit taking on any remaining shorts.

Trends

Weekly Outlook Neutral
Daily Outlook Neutral
Short Term Outlook Neutral

JPY Chart

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Aug 03, 2022

US 30	30,702.5	-72.9	-0.24%
US 500	3,776.0	-9.4	-0.25%
Dow Jones	30,775.43	-253.88	-0.82%
S&P 500	3,785.38	-33.45	-0.88%
Nasdaq	11,028.74	-149.16	-1.33%
S&P 500 VIX	28.71	+0.55	+1.95%
Dollar Index	104.500	-0.349	-0.33%

Crude Oil WTI	105.86	-0.07	-0.07%
Brent Oil	109.20	-3.25	-2.89%
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Gold	1,806.30	-1.00	-0.06%
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Copper	3.6810	+0.0007	+0.02%
US Soybeans	1,563.75	-7.75	-0.49%

SPDR S&P 500	377.25	-3.09	-0.81%
iShares Russell 2000	169.36	-1.33	-0.78%
Invesco QQQ Trust	280.28	-3.52	-1.24%
Direxion Daily Junior Gold Miners Bull 2X Shares	33.46	-2.67	-7.39%
iShares Silver	18.64	-0.50	-2.61%
ProShares Ultra VIX Short-Term Futures	14.53	+0.16	+1.11%
ProShares UltraPro QQQ	24.00	-0.88	-3.54%

Apple	136.72	-2.51	-1.80%
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Netflix	174.87	-3.49	-1.96%
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Bank of America	31.13	-0.73	-2.29%

USD/JPY Price Forecast: Below 104.00 Risks A Slide

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