USDJPY & EURJPY outlook
Jason Sen of DayTradeIdeas.co.uk - InsideFutures.com - Fri Dec 07, 1:50AM CST
USDJPY we wrote: broke good support at 113.15/05 for a sell signal targeting 112.65/60 & a buying opportunity at 112.25/15.
A perfect call as we bottomed exactly at 112.30/20 & shot higher to 112.80 as I write.

USDJPY longs at our buying opportunity at 112.30/20 offered 50 pips profit already as we hit first resistance at 112.80/90 but we could reach resistance at 113.05/15 for profit taking. Try shorts at 113.25/35, with stops above 113.55.
Try longs at 112.30/20 again, with stops below 111.95. A break below 111.95 is a sell signal targeting 111.75 & 111.50/40.

EURJPY is holding the next target of 127.60/50 for a bounce to 128.00 before strong resistance at 128.60/70. Try shorts with stops above 129.00.
Below 127.60/50 look for 127.25/20, perhaps as far as the October low at 126.70/60.

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