In light of the recent performance, the pair might have carved and interim top above the 113.00 milestone, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “USD/JPY has fallen to and is so far bouncing from the 55 day moving average at 110.56. This is reinforced by the 55 week ma at 110.25 and the 200 day ma at 110.09. So we are not particularly surprised to see this hold the initial test”. “Last week the market reversed just ahead of the 200 week moving average at 113.29 and we suspect has temporarily topped. Failure at 110.09 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 midFebruary high at 107.91. Intraday rebounds are indicated to fail circa 111.50/75″. 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/CHF Technical Analysis: Intraday bullish breakout above weekly trading range FX Street 5 years In light of the recent performance, the pair might have carved and interim top above the 113.00 milestone, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "USD/JPY has fallen to and is so far bouncing from the 55 day moving average at 110.56. This is reinforced by the 55 week ma at 110.25 and the 200 day ma at 110.09. So we are not particularly surprised to see this hold the initial test". "Last week the market reversed just ahead of the 200 week moving average at 113.29 and we suspect has temporarily topped. Failure at… 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.
