USD/JPY set to suffer some near-term weakness after failing at 110.70 – Commerzbank


USD/JPY remains below 110.50 as the pair failed to close above the 110.70 pivot. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects USD/JPY to dip in the short-term.

Drop through 108.56 to engage the 107.48 April low

“USD/JPY has traded through but failed to close over the 110.70 level. Currently, we are fairly neutral but would allow for some near-term weakness.” 

“Only a drop through 108.56 would engage the 107.48 April low.”

“The 55-week ma lies at 106.86 and we would allow for some consolidation there.”

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD trades below 1.1300 after German inflation data

EUR/USD continues to trade in the negative territory below 1.1300 as the American session gets underway. The data from Germany showed on Friday that the Harmonized Index of Consumer Prices, the ECB's preferred gauge of inflation, climbed to 6% on a yearly basis in November, compared to the market expectation of 5.4%.

EUR/USD News

GBP/USD retreats into the negative territory below 1.3350

GBP/USD advanced to a daily of 1.3363 in the European session but lost its recovery momentum in the second half of the day. Ahead of mid-tier data releases from the US, the pair trades in the red below 1.3350.

GBP/USD News

Gold: En route to challenge the November monthly low

Spot gold gapped lower at the weekly opening. Concerns related to the new coronavirus variant named Omicron hit hard the markets on Friday, although thinned conditions may have exacerbated the reaction to the news, as the US celebrated Thanksgiving on Thursday.

Gold News

Crypto markets recover as buyers come back

BTC price is aiming to retest the $60,000 psychological level after a recent crash. ETH price is following suit and looks to revisit $4,500 or higher. XRP price on a journey to rally 17% to $1.37.

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!

Forex MAJORS

Cryptocurrencies

Signatures