EURUSD still looking to settle back

EURUSD might take a rise towards 1.2650 level, therefore use of stop is highly recommended for traders as the direction of trend might still change and short term traders might not get results as expected.

Similarly, long term traders will also look to wait until EURUSD settles in a confirmed long term trend to enter the market.

Yen looking to touch 95.00 level

USDJPY is moving in a nice upward trend and it seems that it will continue its momentum and move towards 95.00 level. The current momentum might extend towards 95.80 level. But before continuing its upward trend, we might see USDJPY taking some retrace towards 94.50 level and around that level, we might be seeing traders entering USDJPY for targets above 95.00 level.

On the lower side, the dip could extend to 94.00 level and if USDJPY breaks below that level, then the next support can be seen around 93.50 level.