The pair’s upside momentum could extend to the 113.75 level, suggested Chief Analyst at Danske Bank Arne Rasmussen. Key Quotes “USD/JPY yesterday broke above the high from July at 113.19 driven by general USD strengthening and risk appetite”. “The Summit meeting between Prime Minister Abe and US President Trump has decreased the near-term risks for the cross as an escalation of the trade tensions between the US and Japan appears to have been avoided”. “With no yen-related risk factors in sight near term, risk appetite is likely to be directional for the cross. Investors are very short JPY, according to the latest IMM data, indicating a high correction risk”. “Technically, resistance is seen at 113.75, 114 and around 114.50, while the key support level is likely to be found just below 111 at the 100-day moving average line”. 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/CHF Technical Analysis: Corrects to tests ascending trend-line resistance-turned-support FX Street 4 years The pair's upside momentum could extend to the 113.75 level, suggested Chief Analyst at Danske Bank Arne Rasmussen. Key Quotes "USD/JPY yesterday broke above the high from July at 113.19 driven by general USD strengthening and risk appetite". "The Summit meeting between Prime Minister Abe and US President Trump has decreased the near-term risks for the cross as an escalation of the trade tensions between the US and Japan appears to have been avoided". "With no yen-related risk factors in sight near term, risk appetite is likely to be directional for the cross. Investors are very short JPY, according to… 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.
