The Japanese yen remains weak as USD/JPY has reached the next Fibonacci level at 107.14. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, believes the pair has the July peak at 108.16/20 in its sights. Key quotes “USD/JPY has reached 107.14, the 50% Fibo, and may see some near-term consolidation here ahead of further gains to the 108.16/20 July peak.” “Our target remains the 200-week ma at 109.03.” “Intraday Elliott wave counts are implying a small retracement to 106.65/35 ahead of further strength.” 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 Gold Price Analysis: XAU/USD remains at the mercy of Treasury yields dynamics and Powell FX Street 1 year The Japanese yen remains weak as USD/JPY has reached the next Fibonacci level at 107.14. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, believes the pair has the July peak at 108.16/20 in its sights. Key quotes "USD/JPY has reached 107.14, the 50% Fibo, and may see some near-term consolidation here ahead of further gains to the 108.16/20 July peak." "Our target remains the 200-week ma at 109.03." "Intraday Elliott wave counts are implying a small retracement to 106.65/35 ahead of further strength." 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.
