Karen Jones, analyst at Commerzbank, suggests that USD/JPY is consolidating very near term following its recent sell off to and reversal from the 104.55/10 January low and the 2013-2019 uptrend and this support is reinforced by the 200 month ma at 104.44 and this should act as a near term floor for the market. Key Quotes “It has now also eroded the 20 day ma and we would allow for further gains to the 107.21 18th July low. A recovery above here is needed to alleviate immediate downside pressure. This guards the 108.99/109.32 recent highs.” “Failure at 104.10 would target 99.00 the 2016 low, but for now we would allow for consolidation and look for the market to hold at circa 104.50/10.” 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 Further downside now ruled out in NZD/USD – UOB FX Street 4 years Karen Jones, analyst at Commerzbank, suggests that USD/JPY is consolidating very near term following its recent sell off to and reversal from the 104.55/10 January low and the 2013-2019 uptrend and this support is reinforced by the 200 month ma at 104.44 and this should act as a near term floor for the market. Key Quotes "It has now also eroded the 20 day ma and we would allow for further gains to the 107.21 18th July low. A recovery above here is needed to alleviate immediate downside pressure. This guards the 108.99/109.32 recent highs." "Failure at 104.10 would target… 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.
