Following the recent price action, there could be scope for USD/JPY to advance to the 105.64 level, noted Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “USD/JPY has recently eroded the 10 month downtrend. This has introduced scope towards the 200 day ma at 105.64. The 55 week ma lies at 106.43. We have for now neutralised our longer term view. In order to adopt a more positive stance longer term the market will need to regain the 55 week ma. Bear term we are positive.” “Dips should find support at 103.33, the 21st January low and has a small support line at 103.73.” 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 USD/CAD clings to modest gains around 1.2850 ahead of high-tier data FX Street 1 year Following the recent price action, there could be scope for USD/JPY to advance to the 105.64 level, noted Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Key Quotes “USD/JPY has recently eroded the 10 month downtrend. This has introduced scope towards the 200 day ma at 105.64. The 55 week ma lies at 106.43. We have for now neutralised our longer term view. In order to adopt a more positive stance longer term the market will need to regain the 55 week ma. Bear term we are positive.” “Dips should find support at 103.33, the 21st January low… 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.
