EUR/JPY, USD/JPY — Time for next intervention?

The Japanese yen's post-intervention gains are evaporating fast. Both USD/JPY and EUR/JPY face critical resistance zones that could determine whether Tokyo intervenes again.
Born2trade | 107 days ago

The Japanese yen continues to lose ground and has already surrendered most of the gains achieved through the April–May MoF interventions.

USD/JPY

Upside potential remains capped by 159.20–159.50 and 159.80.

Downside risk prevails, with the first target at 158.50, then 157.00, and potentially 155.20 further out.

EUR/JPY

The 185.20–185.30 resistance zone is exceptionally strong. 

Should a downside scenario materialize, 183–182 could be reached relatively quickly.

By Born2trade market research department

Risk Disclaimer: All research and/or forecasts above reflect the author's personal opinion and cannot be treated as trading advice. born2trade is not responsible for any trading results based on any information in this article. Trading Forex and CFDs carries a high level of risk to your capital. You may lose all of your invested funds. Forex and CFD trading may not be suitable for all investors. Please ensure that you fully understand the risks involved and, if necessary, seek independent advice.

Born2trade
Type: STP, ECN
Regulation: FSC (Mauritius)
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