USDJPY
Intraday - We look to Buy at 143.48 (stop at 142.29)
The primary trend remains bullish. Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher. Support is located at 143.40 and should stem dips to this area. Dip buying offers good risk/reward.
Our profit targets will be...
EURJPY
Intraday - We look to Buy at 142.20 (stop at 141.40)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. This is positive for sentiment and the uptrend has potential to return. The hourly chart technicals suggests further downside before the uptrend returns. Preferred trade is to buy on dips.
Our...
EURJPY
Intraday - We look to Buy at 142.80 (stop at 141.80)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move...
EURJPY
Intraday - We look to Buy at 139.00 (stop at 138.40)
Buying pressure from 138.92 resulted in prices rejecting the dip. The current move higher is expected to continue. The hourly chart technicals suggests further downside before the uptrend returns. Preferred trade is to buy on dips.
Our profit targets will be 140.75 and 141.70
Resistance: 141.70...
USDJPY
Intraday - We look to Buy at 137.55 (stop at 136.67)
The primary trend remains bullish. We look for a temporary move lower. Support is located at 137.50 and should stem dips to this area. Further upside is expected although we prefer to set longs at our bespoke support levels at 137.50, resulting in improved risk/reward.
Our profit targets will be...
AUDJPY
Intraday - We look to Buy at 93.00 (stop at 92.00)
Previous support located at 93.00. Previous resistance located at 94.00. Further upside is expected although we prefer to set longs at our bespoke support levels at 93.00, resulting in improved risk/reward. A move through 94.00 will confirm the bullish momentum.
Our profit targets will be 95.00 and...
GBPJPY
Intraday - We look to Buy at 162.10 (stop at 161.00)
We are trading at oversold extremes. A Doji style candle has been posted from the base. This is positive for sentiment and the uptrend has potential to return. We look to buy dips.
Our profit targets will be 165.20 and 168.40
Resistance: 165.40 / 168.40 / 171.90
Support: 162.00 / 158.65 /...
EURJPY
Intraday - We look to Buy at 140.75 (stop at 139.60)
Selling pressure from 142.79 resulted in all the initial daily gains being overturned. The current move lower is expected to continue. The bias is still for higher levels and we look for any dips to be limited. We look to buy dips.
Our profit targets will be 144.10 and 145.00
Resistance: 145.00...
USDJPY
Intraday - We look to Buy at 133.29 (stop at 132.49)
The primary trend remains bullish. The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing. We can see no technical reason for a change of trend. Further upside is expected although we prefer to buy into dips close to the 133.00...
Price formed a tweezer bottom at support, its indicating bulls still have strength. The next area bulls can push price to is possibly 152.500.
Note: GJ is still in an uptrend because price did not break any major structure levels (HL)
Technically
- On a strong resistance --> Hopeful to see slight retest before break up to levels before Covid-19
Fundamentals
- Risk on --> Economies around the world are opening up, this will potentially result to selloff in safe havens assets like Japanese Yen and Gold, this will likely result in medium term selloff of JPY against other countries currencies NZD...
