OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY faltering ahead of the 1.618 Fibonacci extension - Commerzbank

FXStreet (Barcelona) - According to Karen Jones, Head of Technical Analysis at Commerzbank, the USD/JPY pair appears to be faltering just ahead of the January and October 2006 highs at 119.40/88 and also the psychological 120.00 region.

Key Quotes

“We note the 1.618 Fibonacci extension cutting in at 119.07 and we suspect that we will see some profit taking here.”

“The daily RSI has yet to confirm the new high and reflects a loss of upside momentum.”

“Nearby support is offered by the accelerated support line at 117.36 – while this holds further upside probes remain viable.”

“Below would signal a slide to the 115.45 17th November low being seen, and possibly the 113.86 10th November low be back in focus. While it holds, pressure remains on the topside.”

Risk assets continue to struggle in Asian trade – TDS

The TD Securities team break the key events of the Asian session today.
Read more Previous

Euro core inflation may reach a historical low of 0.6% yoy – Danske

The Danske Bank Team expects euro inflation to decline back to 0.3% y/y in November and believes core inflation will reach a new historical low of 0.6% y/y (due for release on Friday).
Read more Next
Start livechat