USD/JPY: Slippage back towards the 104.10? - Commerzbank

11 Jan 2019

According to Karen Jones, analyst at Commerzbank, USD/JPY pair is back under pressure and suggests that they would allow slippage back towards the 104.10 spike low after it rallied to and has so far failed at the 108.49 accelerated downtrend.

Key Quotes

“The recent move lower was exhaustive and we suspect that this will hold for now. A negative bias remains intact while capped by 109.09, last weeks high, Support at 104.63/10 guards 100.70 Fibonacci support and the 99.00 2016 low.”

“Resistance at 111.38, the 26th October low, guards112.23 the 6 th December low and the top of the range at 113.84.”

Trading foreign exchange on margin carries high potential rewards but also high potential risks that may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience and risk appetite. Past performance is not indicative of future results, which can vary due to market volatility. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Any opinions, news, research, analyses, prices or other information contained on this website or linked to from this website are provided as general market commentary and do not constitute investment advice. AUSFOREX does not accept liability for any loss or damage, including any loss or profit, which may arise directly or indirectly from use of or reliance on such information.

Register a Demo Account

Test drive our trading platform with a 30 day free trial

Register a Live Account

Get started.Open a Forex and CFD trading account with AUSFOREX now

Deposit Funds

Express way for deposit funds

Live Chat

Chat live with one of our 7*24 hour multilingual customer service team