USD/JPY And EUR/JPY Daily Forecast - 27 August 2018

USDJPY & EURJPY

USDJPY hit profit taking as expected to first support at 111.10/05 but below here targets quite good support at 110.85/80. Below 110.60 risks a slide to 110.40.c Holding 111.00/10 on the downside re-targets 111.25 & 111.44/48. A break higher targets 111.65 & 111.85/89, perhaps as far as the August high at 112.10/14.

EURJPY hit targets of 129.00/05 & 129.25/30 as hoped. On further gains look for strong resistance at 129.55/65. Shorts need stops above 129.90. A break higher could target 130.40/50.

Failure to beat 129.25/30 re-targets 129.10/00 & 128.55/45. Look for good support at 128.10/00 for profit taking on any remaining shorts.

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