According to Karen Jones, analyst at Commerzbank, USD/JPY pair has remained stuck between cloud support at 111.21 and tough overhead resistance, which includes the 112.13 March high, the 112.43 55 quarter moving average and the 112.72 2015-2019 downtrend. Key Quotes “This is extremely tough resistance and should cap the topside. Failure at cloud support is needed to alleviate immediate upside pressure and will re-target the 109.70 recent low.” “The 109.70 low guards the 38.2% retracement at 109.06 and there is scope for the 50% retracement at 108.11.” “Above the 112.72 downtrend will target the 114.55 October 2018 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 Samsung invested 2.6 million euros in Ledger FX Street 4 years According to Karen Jones, analyst at Commerzbank, USD/JPY pair has remained stuck between cloud support at 111.21 and tough overhead resistance, which includes the 112.13 March high, the 112.43 55 quarter moving average and the 112.72 2015-2019 downtrend. Key Quotes "This is extremely tough resistance and should cap the topside. Failure at cloud support is needed to alleviate immediate upside pressure and will re-target the 109.70 recent low." "The 109.70 low guards the 38.2% retracement at 109.06 and there is scope for the 50% retracement at 108.11." "Above the 112.72 downtrend will target the 114.55 October 2018 high." 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.
