EURJPY and USDJPY break previous highs

21.00 hrs gmt

As I expected, the USDJPY has broken the 90 level today, and the EURJPY has surpassed its recent high of 120.13. A look at the daily charts tells me that the next target is the previous high+Fibo confluence at 121.80/122 followed by the major resistance at 123. We are now in Friday so normally it would be time to take some profits off the table, but with the BoJ meeting next Tuesday, it might be worth leaving the trades to play it out.

Anyway, as usual I’ll let the price action dictate my actions. See how the price plays out over the next 3-4 sessions.


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