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- USD/JPY: 108.72 and 108.20 are key technical supports to look out for - DBS Bank
USD/JPY: 108.72 and 108.20 are key technical supports to look out for - DBS Bank
FXStreet reports that analysts at DBS Bank suggest that USD/JPY will remain susceptible unless the USD surmounts its long-term resistance levels at 111.66 and 112.40.
“USD/JPY continues to hold below its key resistance marked at 111.66. Together with 112.40, these are key long-term resistance levels to break to forge a topside break.”
“USD/JPY has to consider the 38.2% Fibonacci retracement of the 102.59-111.66 range at 108.20, and just above that the Donchian Channel support at 108.72. The former should carry some significance given it converges with the 108.29 Ichimoku cloud support on the weekly charts. Without the clarity of guidance from Jackson Hole, USD is likely to respect these interim parameters.”
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