Forex Opinion & Analysis

USD/JPY: May Retest Last Week’s High

USD/JPY first resistance at 135.40/60. Shorts need stops above 135.75. A break higher can retest last week’s high at 136.60/70.

Currency Pairs

Shorts at resistance at 135.40/60 target 134.75/65, perhaps as far as good support at 134.35/15. Longs need stops below 134.00.

EUR/JPY beat first resistance at 142.65/85 so holding above here sees prices headed towards 143.50/70, perhaps as far as the June high at 144.15/25

Support at 142.85/65. A break lower targets 142.40/30, perhaps as far as strong support at 141.60/40. Longs need stops below 141.30. A break lower is a sell signal targeting 141.00 and 140.50/40.

NZD/JPY break above resistance at 8500/20 can target 8580/90. Above 8600 look for 8650/60.

Support at 8455/35. Longs need stops below 8410.

AUD/JPY minor resistance at 9400/9420. A break higher targets 9450/60, perhaps as far as 9520/30.

Good support again at 9270/50. Stops below 9230. A break lower is a sell signal targeting 9160/50, 9100/9090 and perhaps as far as 9060/50.

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