In view of Axel Rudolph, analyst at Commerzbank, USD/JPY pair is sitting just below the 110.00 resistance level and the Elliott wave count continues to indicate that this move is corrective only, the DMI is negative but the market continues to hold these levels. Key Quotes “It is being contained higher in a channel and the top of this is located at 110.71. We are currently sitting below the 200 day ma and the October low at 111.28/41. We remain suspicious of the current rally and will attempt short positions. The base of the channel at 108.80 guards the 107.75/50 band.” “Resistance at 111.38, the 26th October low, guards112.23 the 6 th December low and the top of the range at 113.84.” 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 manufacturing production arrives at -0.7% m/m in Dec, a negative surprise FX Street 4 years In view of Axel Rudolph, analyst at Commerzbank, USD/JPY pair is sitting just below the 110.00 resistance level and the Elliott wave count continues to indicate that this move is corrective only, the DMI is negative but the market continues to hold these levels. Key Quotes "It is being contained higher in a channel and the top of this is located at 110.71. We are currently sitting below the 200 day ma and the October low at 111.28/41. We remain suspicious of the current rally and will attempt short positions. The base of the channel at 108.80 guards the 107.75/50… 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.
