USD/JPY: Holding Below 108.8 Keeps Bears In Control; EUR/JPY: Resistance At 127.60: By Jason Sen

USD/JPY And EUR/JPY Weekly Chart

USD/JPY And EUR/JPY Weekly Chart

USD/JPY holding below 108.80 keeps bears in control targeting 108.40/35 before good moving average support at 108.20/10; stops below 107.80. A break lower is a sell signal targeting 107.30/20, perhaps as far as 106.70/60.

First resistance at 108.85/95 held the bounce but above 109.10 targets 109.30/40 then a selling opportunity at 109.75/85.

EUR/JPY holding below 126.70 targets 126.20/10, perhaps as far as 125.60/50. On further losses look for 125.10/05 before the low at 124.70/60.

Strong resistance at 127.60/70. Try shorts with stops above 128.00.

By Jason Sen

May 31, 2018 02:52AM ET

Source: Investing.com

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