- Analytics
- News and Tools
- Market News
- USD/JPY: Key day reversal to warrant stability for the yen - Commerzbank
USD/JPY: Key day reversal to warrant stability for the yen - Commerzbank
FXStreet notes that yen weakness is seen across the board. Nonetheless, the USD/JPY pair posted a Key day reversal which points to stabilization, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, says.
“USD/JPY slipped below the 109.07 July low but managed to level out above the 108.56 late May low by making a key day reversal at 108.73 yesterday, pointing to short-term stabilization.”
“Minor resistance comes in along the 55-day moving average at 110.02 and is currently in focus.”
“Only a drop through 108.56 would engage the 107.48 April low.”
© 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
