The USD/JPY pair has reached its 10-month downtrend, which is the level to beat in order to open the path towards the 200-day moving average at 105.91, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports. Key quotes “USD/JPY’s correction higher has now reached the 10-month downtrend at 104.38. This continues to act as the barrier to the 200-day ma at 105.91.” “Given last weeks key week reversal we feel that upside risk is growing and would allow for the possibility of a trend break.” “Dips lower are indicated to hold in the 103.80/50 band.” 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/INR is not forecast to move in any direction in January – Mizuho FX Street 11 months The USD/JPY pair has reached its 10-month downtrend, which is the level to beat in order to open the path towards the 200-day moving average at 105.91, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports. Key quotes “USD/JPY’s correction higher has now reached the 10-month downtrend at 104.38. This continues to act as the barrier to the 200-day ma at 105.91.” “Given last weeks key week reversal we feel that upside risk is growing and would allow for the possibility of a trend break.” “Dips lower are indicated to hold in the 103.80/50 band.” Top 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.
