Yen Expected to Head Lower: Time to Go Long EUR/JPY, USD/JPY and CAD/JPY?
USD/JPY
-0.05%
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EUR/JPY
-0.03%
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CAD/JPY
+0.20%
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EUR/JPY beat strong resistance at 156.10/30 for a buy signal. I notified you at about 8.20am yesterday. We then shot higher to the target of 157.00 & we have another buying opportunity at 156.30/20 this morning. Longs need stops below 156.00.
Targets: 157.00 & 157.50
EUR/JPY Chart
USD/JPY did hold above 139.30 as confirmation that we can trade higher (as I thought we would eventually) towards 140.20 & even 140.80.
Strong support at 139.20/00. Longs need stops below 138.80.
CAD/JPY beat 105.75/55 so I reversed us in to a long when I revised the trade ideas yesterday morning at 8:20am.
If you managed to buy on the dip to 105.75/55 it is worth holding the long to target 106.70, perhaps as far as 107.20
