- Analytics
- News and Tools
- Market News
- USD/JPY: Range trading – Commerzbank
USD/JPY: Range trading – Commerzbank
Axel Rudolph, analyst at Commerzbank, notes that USD/JPY continues to trade in a tight range just below the 109.71/79 resistance zone, made up of the current December highs and also the November 2018 to 2019 downtrend line as well as the 200 week moving average.
"Only if the 109.71/79 area were to successfully be exceeded on a daily chart closing basis, would the 2015-2019 downtrend line at 110.38 be back in the picture. We expect it to cap, if reached, however. Support can still be seen between the 200- and 55-day moving averages as well as the current December low at 108.76/43. Only unexpected failure at 107.89 would probably trigger losses to the 106.48 October low. Failure at 106.48 would target the 106.00 mark. On a weekly chart close above the 2015-2019 downtrend line and the current December high at 109.72/73."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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 pr@teletrade.global.
Bank transfers
