FXStreet reports that USD/JPY remains pressured around 110.50. Nonetheless, the pair is set to target the 112.23/50 region on a break above the 111.13/38 resistance zone, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggests.
“USD/JPY continues to consolidate near term just below the 111.13/38 October 2018 low and mid-February 2019 high.”
“Our medium-term target is 112.23/50 which represents the April 2019 high, the 2020 high and a long term Fibonacci retracement.”
“The cross should maintain an overall positive bias above the 108.56 late May low.”
© 2000-2022. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.