The US Dollar recovery gaining traction as the USD/JPY pair is through its near-term downtrend at 106.32. The pair is now near three-week tops, around the 106.70 region and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, looks for the 200-day ma at 108.15. Key quotes “USD/JPY has eroded the short-term downtrend at 106.32 which alleviates downside pressure and casts attention to the 200-day ma at 108.15.” “Initial support is 105.30, the 6th August low. Last week’s low at 104.20 guards the 103.43/78.6% retracement, which is the last defence for the 101.18 March low.” 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 USD/JPY now looks past 107.00 – UOB FX Street 2 years The US Dollar recovery gaining traction as the USD/JPY pair is through its near-term downtrend at 106.32. The pair is now near three-week tops, around the 106.70 region and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, looks for the 200-day ma at 108.15. Key quotes “USD/JPY has eroded the short-term downtrend at 106.32 which alleviates downside pressure and casts attention to the 200-day ma at 108.15.” “Initial support is 105.30, the 6th August low. Last week’s low at 104.20 guards the 103.43/78.6% retracement, which is the last defence for the 101.18 March low.” 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.
