Trade Ideas & Trading Levels – Japanese Crosses in Focus

I'm seeing good potential in the Japanese pairs, specifically EUR/JPY and GBP/JPY. Both of these pairs are trendy and as we know the trend is our friend. Let's take a look at major trading levels to position ourselves in a running trend.  

EUR/JPY – Trading Levels

Support            Resistance

S1: 130.93            R1: 131.50

S2: 130.76            R2: 131.67

S3: 130.48           R3: 131.96

Key Trading Level – $131.22

EURJPY Trade Plan

Currently, I'm looking at the area below $131.650 to sell with a target of $130.850.

GBP/JPY – Trading Levels

Support            Resistance

S1: 141.76             R1: 142.72

S2: 141.46            R2: 143.02    

S3: 140.98            R3: 143.50

Key Trading Level – $142.24

GBPJPY Trade Plan

The idea is to sell GBP/JPY right now at $142.750 with a target of $141.550 and a stop loss of $143.250. Good luck!