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FX Analysis: EURUSD and USDJPY

EURUSD: remains lower, key resistance around 1.1100 level.
USDJPY: 124.50 is the strong resistance.

EURUSD continues to be rejected by 1.110 level and 50-day EMA, the trend bias Bearish.
  • Short-term: if 1.110 resistance level is broken to the upside, could expose 200-day EMA and resistance around 1.135 level.
  • Long-term: however EURUSD continues Bearish. break below 1.080 support level, target at 1.050 level.
USDJPY broke out above key resistance around the 124.50 level and bounced back after testing this level.
  • If USDJPY is re-break above 124.50 , the upside target is at 125.85
  • break above 125.85 would confirm a continuation of the bullish trend, could target 129.00 next.(the Apr 2002 high)
  • 1st Support is at 123.50 and the key support remains at the key 122.00 level.

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