USD/JPY eroded the August 2019 low at 104.46 last week but as the pair was unable to close below the mentioned mark, Commerzbank’s Karen Jones is expecting a recovery with downtrend at 106.83 showing initial resistance. Key quotes “USD/JPY last week eroded 104.46, the August 2019 low, but we did not close below here and charted a large key day reversal, suggesting scope for a near-term recovery.” “Resistance is offered by the short-term downtrend at 106.83 ahead of the 200-day moving average at 108.24.” “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 EUR/USD corrects lower and tests 1.1740 ahead of PMIs FX Street 3 years USD/JPY eroded the August 2019 low at 104.46 last week but as the pair was unable to close below the mentioned mark, Commerzbank’s Karen Jones is expecting a recovery with downtrend at 106.83 showing initial resistance. Key quotes “USD/JPY last week eroded 104.46, the August 2019 low, but we did not close below here and charted a large key day reversal, suggesting scope for a near-term recovery.” “Resistance is offered by the short-term downtrend at 106.83 ahead of the 200-day moving average at 108.24.” “Last week’s low at 104.20 guards the 103.43/78.6% retracement, which is the last defence for 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.
