EUR/JPY, EUR/CAD: Levels, Ranges, Targets

EUR/JPY from current 122.51 sits perfectly on a vital support as next significant point below is found at 122.41. Both points represent 1636 and 1615 day averages. Next major point above 123.61 and 123.89. Overall range 122.51 to 123.61, 110 pip range. EUR/JPY continues to run 90% correlations to USD/JPY. A break of 122.41 offers next 121.86 and today’s Bottom.

EUR/CAD from current 1.4720 offers next significant break point at 1.4712 but thick supports exist below from 1.4672 to 1.4607. After 1.4672 comes 1.4658, 1.4631, 1.4610 then 1.4607. Above EUR/CAD faces rough resistance at 1.4809. Today’s Bottom is located at 1.4692.

Brian Twomey, Inside the Currency Market,

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