The US Dollar recovery gaining traction as the USD/JPY pair is through its near-term downtrend at 106.32. The pair is now near three-week tops, around the 106.70 region and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, looks for the 200-day ma at 108.15.
Key quotes
“USD/JPY has eroded the short-term downtrend at 106.32 which alleviates downside pressure and casts attention to the 200-day ma at 108.15.” “Initial support is 105.30, the 6th August low. Last week’s low at 104.20 guards the 103.43/78.6% retracement, which is the last defence for the 101.18 March low.”USD/JPY 0001-01-01T00:00:00
0/0 (0%)
H0 L0
| S3 | S2 | S1 | R1 | R2 | R3 |
|---|---|---|---|---|---|
| 105.29 | 105.61 | 106.05 | 106.81 | 107.13 | 107.57 |
| Trend Index | OB/OS Index |
|---|---|
| Bullish | Neutral |
