Afternoon market update: LCMS Traders daily currency call
USDJPY has broken through recent support as weakness in the US dollar takes place, there is a selling opportunity with a 25 pip stop loss and a 50 pip take profit to 109.70. The GBPJPY resting on 152.26 will need to show a change in momentum with a bounce here for a possible buy trade, above 152.50 as an entry with a 40 pip stop loss and 80 pip take profit with further upside if it can break through over 153.70. EURJPY is a buy trade based on a positive reaction to the ECB meeting at 19:30 GMT+8 this evening as this 130.51 has previously offered buying interest two weeks ago, 30 pip stop loss and a 90 pip take profit at 131.71.
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