FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains in a consolidative pattern.



Key Quotes



USD/JPY’s rebound last week from its 101.16 55 week m.a took it to cloud resistance on the daily chart, where the move halted”.



“This is located at 101.91/95 today and is reinforced by the 2014 downtrend at 102.39”.



“We view this market as sidelined and until we take out the downtrend on a closing basis this will remain the case”.



“Longer term the market is sidelined but underpinned by the 2013-2014 uptrend at 100.59 and the 55 week ma at 101.11. Our stance is neutral”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Aussie rallies as RBA alters AUD stance, UK construction PMI – Next in focus

  2. Forex News

    USD/JPY Technical Analysis: Waiting for Spark Below 125.00

  3. Forex News

    USD/JPY better bid above 124 as treasury yields rebound

  4. Forex News

    USD/JPY: bulls compromised on commodity weakness

  5. Forex News

    USD/JPY finds support at 123.85; back to test

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!