Following the recent drop, the pair should face contention in the 110.72/12 band, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “USD/JPY last week reversed just ahead of the 200 week moving average at 113.29. The sell off will shortly encounter a strong band of support offered by the 110.72/12, which represents the uptrend, 55 day ma, 200 day ma and the 55 week moving average and this should hold the initial test. Failure will target the 8 th June low at 109.20. Loss of 109.20 (8 th June low) would imply a slide back to the 108.21 29th May low and the mid-February high at 107.91. Intraday rebounds are indicated to fail circa 111.50/75″. “The 200 week ma represents the break up point to 114.73, the November 2017 high. (Our much longer term target is the 125.86 2015 high)”. 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 Eurozone flash manufacturing PMI jumps to 55.1 in July, two-month highs FX Street 5 years Following the recent drop, the pair should face contention in the 110.72/12 band, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "USD/JPY last week reversed just ahead of the 200 week moving average at 113.29. The sell off will shortly encounter a strong band of support offered by the 110.72/12, which represents the uptrend, 55 day ma, 200 day ma and the 55 week moving average and this should hold the initial test. Failure will target the 8 th June low at 109.20. Loss of 109.20 (8 th June low) would imply a slide back to… 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.
