USD/JPY: Break above 109.96 to pave the way towards the 110.97 March high – Commerzbank
|USD/JPY maintains a positive bias above the 107.92 uptrend. In the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the pair is set to target the 112.23/50 neighborhood in the medium-term.
Positive above the uptrend at 107.92
“USD/JPY remains bid above the 2021 uptrend at 107.92.”
“The 109.96 April 9 high remains the barrier to the 110.97 March high and 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.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.