USD/JPY, EUR/JPY Forecast: Dec 2, 2020

be ready to buy a break above 104.50 targeting 104.75 and probably as far as resistance at 105.35/45. Try shorts with stops above 105.70.

Minor support at 104.20/10 with the best support at 103.90/80. Longs need stops below 103.65. A break below here is an important medium-term sell signal.

longs on a break above 125.00/125.20 offered up to 100 pips profit so far. We meet strong 2-year trend line resistance at 126.20/40 so this is now key to the direction in overbought conditions. A break above 126.60 is an important longer-term buy signal.

Profit-taking certainly possible to ease overbought conditions to 125.70/60. Try longs at 125.20/00 with stops below 124.80.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Neutral
JPY Chart
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