In light of the ongoing rally, the pair is now poised to test the 114.74 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “USD/JPY last week eroded the July peak and 200 week moving average at 113.18/21. We note the TD resistance at 114.31 and are allowing for gains towards the 2017 high at 114.74, where we suspect that it may struggle. Minor support sits at the 113.18 July high and the accelerated uptrend at 113.02 and while above here the market is immediately bid”. “We look for dips lower to be contained by the 111.83/58 late August high and 55 day moving average. Uptrend support lies at 111.120″. “Above 114.74 would target 118.66, the December 2016 high”. 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 Japan PM Abe: Want Aso to do his utmost so Japan can make full exit from deflation FX Street 4 years In light of the ongoing rally, the pair is now poised to test the 114.74 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "USD/JPY last week eroded the July peak and 200 week moving average at 113.18/21. We note the TD resistance at 114.31 and are allowing for gains towards the 2017 high at 114.74, where we suspect that it may struggle. Minor support sits at the 113.18 July high and the accelerated uptrend at 113.02 and while above here the market is immediately bid". "We look for dips lower to be contained by the… 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.
