Karen Jones, Analyst at Commerzbank, suggests that after the USD/JPY has recently seen failure at the 114.03 resistance line, they expect the pair to slide back into the range possibly to the 2 month support line at 112.09, where it is likely to then hold. Key Quotes “Above the market lies the 114.55 October high and the 115.60 61.8% Fibonacci retracement – this represents very tough overhead resistance. The 55 day ma at 113.00 guards the base of the cloud at 112.16 and the 122.09 support line.” “Only failure at the 112.16 cloud support and support line would target the 110.43/109.77 200 day moving average and August low. If the 109.77 August low were to give way, the June 8 low at 109.20 would be in focus. Failure there would imply a slide back to the 108.12 May 29 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 Ripple price analysis: no more gains for XRP/USD FX Street 4 years Karen Jones, Analyst at Commerzbank, suggests that after the USD/JPY has recently seen failure at the 114.03 resistance line, they expect the pair to slide back into the range possibly to the 2 month support line at 112.09, where it is likely to then hold. Key Quotes "Above the market lies the 114.55 October high and the 115.60 61.8% Fibonacci retracement - this represents very tough overhead resistance. The 55 day ma at 113.00 guards the base of the cloud at 112.16 and the 122.09 support line." "Only failure at the 112.16 cloud support and support line would target 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.
