USD/JPY has renewed multi-year highs above 114.00. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to hit the 114.55 October 2018 high.
USD/JPY is coming near the 114.55 2018 excessive
“USD/JPY has been consolidating its current positive aspects for two days, however is once more already breaking higher. The pair stays extraordinarily bid above its accelerated uptrend at 112.43 and will rapidly come upon the 114.55 October 2018 high, the place we may additionally see some earnings taking.”
“Longer-term, we have 115.60, the 61.8% retracement of the pass down from 2015 and then the 117.06 the 1998-2021 resistance line.”
“The accelerated uptrend guards 110.80 the mid-August high.”