EUR/USD: Fade Rallies Into 1.25; USD/JPY: Buy Dips Into 104.50 & Fade Rallies Into 108 - TD

TD Research discusses EUR/USD, and USD/JPY outlook, and trade strategies, and holds the view that the recent ranges in some of the low-yielders like EUR and JPY should hold in the near-term.
"We expect the majors to hold the recent ranges, which favors fading the EURUSD towards 1.25. 
With USDJPY holding the lows near 104.50, we think risk/reward favors buying into the dips and looking to fade near the top-end of the range near 108. Our HFFV sits near 107 so a minor overshoot towards 108 would offer better entry levels to sell,"TD argues.