USDJPY Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, Jason Sen has been in the financial industry since the late 1980’s, and has held many positions over the years. In this technical analysis of the financial markets article he provides his insights on several Forex currency pairs, including USDJPY, EURJPY, CADJPY, and several others.
Technical Analysis for: USDJPY, EURJPY, CADJPY
The USDJPY Forex currency pair beat 110.70/80 for the next target of 111.15/20.
Traders who were long EURJPY at 129.50/40 had their trades work perfectly, with a high for the day here targeting 130.00/05 (hit) & strong resistance at 130.25/35.
CADJPY hit our target & strong resistance at 8790/8810, with the best chance of a high for the week. Shorts need stops above 8830.
Today’s Analysis for September 29th 2021
USDJPY hit the next target of 111.15/20 this morning. Expect very important 4 year trend line resistance at 110.65/85. Shorts need stops above 111.10.
First support for USDJPY is at 110.80/70 and it could hold the downside if reached. However, if markets continue to move lower past that level it will meet strong support at 110.40/30.
EURJPY has a potential 50 pips profit already this week as we target 130.00/05 & strong resistance at 130.25/35. Try shorts with stops above 130.50.
First support at 129.50/40 again today, longs need stops below 129.25. A break lower targets 129.05/95 then 128.65/55.
CADJPY hit very strong resistance at 8790/8810, with the best chance of a high for the week. Shorts need stops above 8830. A break higher is an important longer term buy signal, initially targeting 8865 & 8895.
Shorts at at 8790/8810 target 8750/40 & 8685/75 for profit taking.
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Jason Sen, Director