Karen Jones, analyst at Commerzbank, suggests that USD/JPY has rallied higher last week above the 200 day ma and into 5 month highs. Key Quotes “It is losing upside momentum ahead of tough resistance which extends from current levels up to the 2015-2019 downtrend at 110.79 (the 55 and 200 week moving averages are found ahead of here at 109.57/109.98). This is formidable resistance and it should hold the topside.” “Near term the market is bid while above the uptrend at 108.36 and we would allow for some upside probes. Failure at the recent low of 107.89 is needed to alleviate upside pressure and trigger losses to the 106.48 October low.” “Failure at 106.48 will target 106.00, then 105.32/78.6% retracement which is the last defence for the 104.46 August 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 UK Average Earnings data misses expectations of 3.8% to print at 3.6% FX Street 3 years Karen Jones, analyst at Commerzbank, suggests that USD/JPY has rallied higher last week above the 200 day ma and into 5 month highs. Key Quotes "It is losing upside momentum ahead of tough resistance which extends from current levels up to the 2015-2019 downtrend at 110.79 (the 55 and 200 week moving averages are found ahead of here at 109.57/109.98). This is formidable resistance and it should hold the topside." "Near term the market is bid while above the uptrend at 108.36 and we would allow for some upside probes. Failure at the recent low of 107.89 is needed 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.
