News

USD/JPY has the 114.55 2018 high in its crosshairs – Commerzbank

USD/JPY has renewed multi-year highs above 114.00. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to hit the 114.55 October 2018 high.

USD/JPY is approaching the 114.55 2018 high 

“USD/JPY has been consolidating its recent gains for two days, but is again already breaking higher. The pair remains extremely bid above its accelerated uptrend at 112.43 and will shortly encounter the 114.55 October 2018 high, where we may see some profit taking.”

“Longer-term, we have 115.60, the 61.8% retracement of the move down from 2015 and then the 117.06 the 1998-2021 resistance line.”

“The accelerated uptrend guards 110.80 the mid-August high.”

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.