FXStreet (Edinburgh) - The pair would keep the bearish tone while below the 101.93 level, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.



Key Quotes



USD/JPY is holding just above the 101.10 55 week ma”.



“The intraday counts are suggesting that this is the end of the down move for now”.



“We have exited shorts and wait for the next signal. For now the range dominates. USD/JPY remains directly offered below the near term downtrend at 101.93, although key resistance remains the 2014 downtrend at 102.50”.



“Longer term we suspect that the risk is growing for a downside break towards the 2013-2014 uptrend at 100.59”.



“We suspect that were the 100.00 level to give way, the market would really start to disintegrate”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Japanese Yen: Up or Down? Next Week Holds the Keys

  2. Forex News

    USD/JPY rebounds back toward 124.00, unchanged for the week

  3. Forex News

    USD/JPY drops to 123.50 on weaker dollar

  4. Forex News

    USD/JPY erases weekly gains after US data

  5. Forex News

    Weakest Wage Growth Since 1982 Shocks USD Out of Intraday Rally

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!