Karen Jones, analyst at Commerzbank, notes that USD/JPY pair has continued to creep slowly higher, its recent new low of 105.05 was not been confirmed by the daily RSI. Key Quotes “We suspect that the market may have based just ahead of the 104.48/10 January low and the 2013-2019 uptrend. This support is reinforced by the 200 month ma at 104.44. Interim resistance is the 107.21 18th July low and the market remains capped here, as such we remain unable to rule out another stab down towards the 104.50 region prior to recovery.” “A negative bias remains entrenched while capped by the 108.99/109.32 recent highs.” “Failure at 104.10 would target 99.00 the 2016 low, but for now we would allow for consolidation and look for the market to hold circa 104.50/10.” 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 China’s CommerceMin: China will have to retaliate if US persists on current course FX Street 4 years Karen Jones, analyst at Commerzbank, notes that USD/JPY pair has continued to creep slowly higher, its recent new low of 105.05 was not been confirmed by the daily RSI. Key Quotes "We suspect that the market may have based just ahead of the 104.48/10 January low and the 2013-2019 uptrend. This support is reinforced by the 200 month ma at 104.44. Interim resistance is the 107.21 18th July low and the market remains capped here, as such we remain unable to rule out another stab down towards the 104.50 region prior to recovery." "A negative bias remains entrenched while capped… 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.
