SEK/JPY has formed a major low and a close above 11.2793 will confirm it, according to Commerzbank’s Karen Jones. Key quotes “The market is approaching the six month resistance line and the 200-day moving average at 11.1420/11.1620. Between these levels and the 11.2793 2018-2020 downtrend the cross is likely to at least short-term stall.” “The longer-term risk is for further recovery however and above 11.2290 we target the 11.74 December 2019 high.” “Short-term upside pressure should retain the upper hand while the three month support line and current May low at 10.7660/10.7440 underpin on a daily chart closing basis. Below this are the 10.6120/10.5650 April lows.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Germany’s IfW Kiel: German economy to contract by more than 7% in 2020 FX Street 2 years SEK/JPY has formed a major low and a close above 11.2793 will confirm it, according to Commerzbank’s Karen Jones. Key quotes “The market is approaching the six month resistance line and the 200-day moving average at 11.1420/11.1620. Between these levels and the 11.2793 2018-2020 downtrend the cross is likely to at least short-term stall.” “The longer-term risk is for further recovery however and above 11.2290 we target the 11.74 December 2019 high.” “Short-term upside pressure should retain the upper hand while the three month support line and current May low at 10.7660/10.7440 underpin on a daily chart closing basis. Below… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
