USD/JPY: Eording the 110.50/85 resistance is critical to alleviate negative bias – Commerzbank

USD/JPY is again approaching the 110.60/85 resistances. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, had been expecting a top here but now is considering a continuation pattern. 

Watch out the 110.50/85 band

“USD/JPY is again approaching the 110.60/85 resistances. We had been viewing this as a potential top, BUT it could be a continuation pattern, so we will wait and see what happens in the 110.50/85 band.”

“We will maintain a negative bias for now while below 110.85 and we look for a retest of the 109.07 and 108.73 recent lows.”

“A drop through 108.56 (end of May low) would engage the 107.48 April low. The 55-week ma lies at 107.14 and we would allow for some consolidation there.”


Articles You May Like

IC Markets Demo Account: Mt4, Mt5, Ctrader and More
Emirates airline chalks record annual profit as travel demand booms
Gold heads for second weekly gain, silver hits 11-year high
Dollar Still in Recovery With Indecisive Momentum; Eyes on USD/CHF Resistance
DuPont stock hits new high after an analyst’s upgrade — why we’re not buyers here

Leave a Reply

Your email address will not be published. Required fields are marked *