Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair remains poised for a probable correction lower. Key Quotes “USD/JPY is extremely close to the 200 week moving average at 113.29 and is seeing some profit taking here. We note the complex divergence of the daily RSI, the TD perfected set up on the daily chart and together with a 13 count on the 240 minute chart. These all point to a probable correction lower and we would exit any remaining long positions. This represents the break point to 114.73, the November 2017 high. (Our much longer term target is the 125.86 2015 high). The market stays bid above the 110.41 55 day ma”. “Below the 55 day ma at 110.41 will target the 8 th 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 UK PM Theresa May: ‘Absolutely committed’ to devising a workable backstop FX Street 5 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair remains poised for a probable correction lower. Key Quotes "USD/JPY is extremely close to the 200 week moving average at 113.29 and is seeing some profit taking here. We note the complex divergence of the daily RSI, the TD perfected set up on the daily chart and together with a 13 count on the 240 minute chart. These all point to a probable correction lower and we would exit any remaining long positions. This represents the break point to 114.73, the November 2017 high. (Our much longer term… 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.
