The USD/JPY pair seems to have stabilized in the neutral territory on Wednesday, just above mid-105.00s, as the near-term bounce is approaching the three-month downtrend at 105.90. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the rebound to fail at the mentioned 105.90 mark. Key quotes “USD/JPY is poised to reach the 55-day ma at 105.91 and the short-term downtrend at 105.90, and will ideally fail in this vicinity. A negative bias will remain entrenched below here.” “The 104.00 support guards the 103.43/78.6% Fibonacci retracement, which is the last defence for the 101.18 March low.” “The market will need to regain 107.05, the recent high, to trigger a move to the 200-day ma at 107.58.” 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 ECB’s Lagarde: Low inflation poses fundamental challenges FX Street 2 years The USD/JPY pair seems to have stabilized in the neutral territory on Wednesday, just above mid-105.00s, as the near-term bounce is approaching the three-month downtrend at 105.90. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the rebound to fail at the mentioned 105.90 mark. Key quotes “USD/JPY is poised to reach the 55-day ma at 105.91 and the short-term downtrend at 105.90, and will ideally fail in this vicinity. A negative bias will remain entrenched below here.” “The 104.00 support guards the 103.43/78.6% Fibonacci retracement, which is the last defence for the 101.18 March low.” “The market… 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.
