EUR/USD and USD/JPY: Barclays' short-term forecast for today (8 January)

As it often does, Barclays gave its short-term forecast for the day this Friday, 8 January 2015 for the EUR/USD and USD/JPY:

EUR/USD: "Overall, we are bearish and we recommend using any increases to 1.0950 as selling opportunities. A return below 1.0710 would confirm the bearish momentum with targets at 1.0640 and 1.0520."

USD/JPY: "A close below our initial target at 118 would signal a stronger decline towards 116.15 and then 115.85."