Commerzbank analysts point out that USD/JPY is seeing a minor rebound from the 50% retracement at 106.47, but this has been slightly deeper than they hoped. Key Quotes “Currently we suspect that the market will struggle to make gains but with no additional sell signal is relatively neutral very near term. Failure at 106.47 will target 106.00, then 105.32/78.6% retracement which is the last defence for the 104.46 August low.” “The recent rejection from the 50% retracement at 108.43 (of the move down from April) and the mid September high at 108.48 is viewed as an interim top.” “The market stays offered below the 200 day ma at 109.07. The 200 day ma guards the 55 and 200 week moving averages at 109.91/110.24.” 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 Forex News Today: Daily Trading News share Read Next Gold climbs to session tops, further beyond $1500 mark FX Street 4 years Commerzbank analysts point out that USD/JPY is seeing a minor rebound from the 50% retracement at 106.47, but this has been slightly deeper than they hoped. Key Quotes "Currently we suspect that the market will struggle to make gains but with no additional sell signal is relatively neutral very near term. Failure at 106.47 will target 106.00, then 105.32/78.6% retracement which is the last defence for the 104.46 August low." "The recent rejection from the 50% retracement at 108.43 (of the move down from April) and the mid September high at 108.48 is viewed as an interim top." "The market… 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.
