USDJPY best at support at 113.40/30 again today

USDJPY best at support at 113.40/30 again today

USDJPY best at support at 113.40/30 again today.

EURJPY up one day, down the next day in the sideways trend for over a week. Becoming more erratic & therefore difficult to trade.

CADJPY also more random & more erratic last week, although shorts at first resistance at 9240/60 work again yesterday with a 70 pip profit offered this morning.

Update daily at 06:30 GMT

Today's Analysis.

USDJPY first support again at 113.40/30. Longs need stops below 113.20 so the risk is very small. A break lower is a sell signal targeting 113.00/112.90 & 112.60/50 for profit taking on shorts.

Longs at 113.40/30 target 113.80/90. We should pause here but further gains meet minor resistance at last week's high of 114.25/30. Strong resistance at the October high of 114.50/70. Shorts need stops above 114.80. A break higher is a medium term buy signal.

USDJPY best at support at 113.40/30 again today - 1

EURJPY first support at 131.60/40, stop below 131.35. A break lower is a sell signal initially targeting 130.90 & we could hold here initially, maybe even bounce to 131.40/50. Further losses meet an important buying opportunity at 130.40/20 with stops below 130.00

First resistance at 132.20/30 . Above 132.40 can target 132.90, perhaps as far as strong resistance at October's high of 133.30/50.

CADJPY shorts at first resistance at 9240/60 worth a try again targeting 9200 & 9175 (hit as I write). A buying opportunity at 9120/00 with stops below 9090.

Gains are likely to be limited with first resistance at 9240/60. However a break higher retests October's high at 9295/9305.

Emini S&P December on the way to the next target of 4625/35 this week. Longs at first support at 4590/85 starting to work.

Nasdaq December closed at the new all time high at 159864 keeping the outlook positive for this week as we hit the next target of 15900/950.

Emini Dow Jones December making a clear break above the all time high at 35540/550 for a buy signal as we hit the next target of 35800/850 & now look for 36000/100.

Update daily at 07:00 GMT.

Today's Analysis.

Emini S&P longs at first support at 4590/85 are expected to target 4625/35 but a high for the day is likely if tested today. Shorts are very risky of course in the bull trend. A break above 4645 is the next buy signal.

First support at 4590/85. Longs need stops below 4575. Strong support at 4545/35. Longs need stops below 4525.

USDJPY best at support at 113.40/30 again today - 2

Nasdaq December now expected to target 15900/950 (hit yesterday) & now 16050/080.

Downside is expected to be limited ion the bull trend with first support at 15780/750. Stop below 15720. A break lower targets 15670 with strong support at 15580/540. Longs need stops below 15500.

Emini Dow Jones December now targeting 35800/850 & 36000/100, even as far as 36250/280.

Downside is expected to be limited with minor support at 35670/650 & 35525/500. A buying opportunity at 35320/280 with stops below 35250.

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Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk