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USD/JPY And EUR/JPY Daily Forecast For Dec 9, 2019

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  • USD/JPY And EUR/JPY Daily Forecast For Dec 9, 2019

    USD/JPY holding minor support at 108.45/35 but the outlook is negative so a break below 108.30 is the next sell signal targeting 108.05/00 and strong support at 107.80/70. Longs need stops below 107.55.

    Strong resistance at 108.90/109.00. Try shorts with stops above 109.10. A break higher targets 109.30/35 and 109.55/60. Try shorts at 109.65/80 with stops above 109.99.

    EUR/JPY a break below 120.25/15 targets 119.80 and 119.70/65 before a buying opportunity at 119.30/20, with stops below 119.05.

    Bulls need prices to hold above 120.20 to target minor resistance at 120.50/60 and perhaps as far as strong resistance at 120.90/121.00. On further gains look for 121.35 and strong resistance at 121.30/40.

  • #2
    The euro is sliding in a continued downtrend as it faces multiple pressures. The eurozone economy is increasingly sluggish, while its economic engine, Germany, is getting closer and closer to recession.


    Europe’s economic growth has been lagging, relying on industries that are fast becoming obsolete. The continent is trailing in services such as rent a car munich (tourism), information and telecommunication — the industries of the future. Germany’s government appears unable to take any significant initiatives to kickstart the country's economy as it becomes ever more mired in coalition entanglements.


    Ironically, even as the U.S. president is facing possible impeachment, the U.S. government has just surprised the world with its strong jobs market data, boosting the dollar.

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