USD/JPY, EUR/JPY Forecast For Feb. 6, 2020

recovering late January losses as we beat minor resistance at 109.45/55 to hit the next target of 109.80/90 and we topped exactly here.

hit the next target of 120.95/99 with a short spike as far as 121.14 before settling below 120.95/99.

USD/JPY topped exactly at the next target of 109.80/90 as we look for a test of quite strong resistance at 110.10/20 in to the end of the week. A break above 110.30 is the next buy signal.

Minor support at 109.70/65 then a buying opportunity at 109.54/50, with stops below 109.40. Try longs again at 109.30/25 with stops below 109.15.

EUR/JPY first resistance at 120.95/99. A break above 121.15 targets stronger resistance at 121.25/35. Shorts need stops above 121.45. A break higher targets 121.65/75.

First support at 120.55/45 then a buying opportunity at 120.25/20, with stops below 120.10.


  • Weekly outlook is neutral
  • Daily outlook is neutral
  • Short Term outlook is positive
  • Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

    Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.