In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair is expected to meet initial resistance in the 113.30 region. Key Quotes “USD/JPY last week severed the 2015-2018 downtrend, and we look for gains this week. Initial resistance is the 200 week moving average at 113.29 and then 114.73 the November 2017 high. (Our much longer term target is the 125.86 2015 high). Dips lower are indicated to hold 111.95/60 and the market stays bid above the 110.18 55 day ma. We note the 13 count on the intraday charts and would allow for a small pullback prior to further gains”. “Below the 55 day ma at 110.18 will target the 8th June low at 109.20. Loss of 109.20 (8th June low) would imply a slide back to the 108.21 29th May low and the mid- February high at 107.91″. 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 South Korea’s Bithumb exchange eyes Japan and Thailand in its 2018 expansion plan FX Street 5 years In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair is expected to meet initial resistance in the 113.30 region. Key Quotes "USD/JPY last week severed the 2015-2018 downtrend, and we look for gains this week. Initial resistance is the 200 week moving average at 113.29 and then 114.73 the November 2017 high. (Our much longer term target is the 125.86 2015 high). Dips lower are indicated to hold 111.95/60 and the market stays bid above the 110.18 55 day ma. We note the 13 count on the intraday charts and would allow for a small… 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.
