Karen Jones, analyst at Commerzbank, suggests that USD/JPY pair has eroded the 50% retracement at 108.43 (of the move down from April) and the mid-September high at 108.48. Key Quotes “It is approaching the 200 day ma at 109.07 – we would allow for this to hold the initial test. Beyond this consolidation the market is well placed to try the topside once more. Above the market lies the 55 and 200 week moving averages at 109.85/110.18 and the 2015-2019 downtrend at 111.05.” “Failure at 106.47 will target 106.00, then 105.32/78.6% retracement which is the last defence for the 104.46 August low.” 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 TRON price analysis: TRX/USD claws back ground after a sharp-sell-off FX Street 4 years Karen Jones, analyst at Commerzbank, suggests that USD/JPY pair has eroded the 50% retracement at 108.43 (of the move down from April) and the mid-September high at 108.48. Key Quotes "It is approaching the 200 day ma at 109.07 - we would allow for this to hold the initial test. Beyond this consolidation the market is well placed to try the topside once more. Above the market lies the 55 and 200 week moving averages at 109.85/110.18 and the 2015-2019 downtrend at 111.05." "Failure at 106.47 will target 106.00, then 105.32/78.6% retracement which is the last defence for the 104.46… 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.
